Macroeconomics Exam Review 33

Macroeconomics Exam Review 33 - Hence x conv { ( , ,..., )...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Hence x conv { ( , ,..., ) } In other words conv { ( , ,..., ) } 3. Let denote the set of points of the form { ( , ,..., ) } . Clearly, every point in is an extreme point of . Conversely, we have shown that conv . Therefore, no point x can be an extreme point of . is the set of extreme points of . 4. Since is convex, and , conv . Consequently, = conv . 1.178 Let x , y belong to is convex. For any [0 , 1] x + (1 ) y since convex x + (1 ) y / since is a face Thus x + (1 ) y which is convex. 1.179 1. Trivial....
View Full Document

Ask a homework question - tutors are online