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Unformatted text preview: ncave? Convex? Strictly concave? Strictly
convex? Both concave and convex? Neither concave nor convex?
) and where
. When is this function concave? Convex?
Strictly concave? Strictly convex? Both concave and convex? Neither concave nor convex?
(c) Write down a uni-variate function which is both concave and convex.
(d) True or false: if the function ( ) is concave then the function ( ) is convex (and vice versa)?
1 University of Toronto, Department of Economics, ECO 204, 2013 - 20143 (e) Suppose
() () ( ) For example, ⏟
() ( ) is also concave? ⏟ Suppose the function ( ) is concave. Does this mean that
() Question 3
Graph the function
. Does the function “look” strictly concave (decelerating and doesn’t
have flat portions)? If so, is it true that strict concavity implies that ( )
for all values of (in particular
Convert each of the following minimization problems into a maximization problem (don’t solve the problems):
Consider a perfectly compe...
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This homework help was uploaded on 02/15/2014 for the course E 204 taught by Professor Ajaz during the Winter '13 term at University of Toronto- Toronto.
- Winter '13