ajaz_204_2013_2014_HW_1

Convex strictly concave strictly a consider defined

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Unformatted text preview: ncave? Convex? Strictly concave? Strictly (a) Consider defined on convex? Both concave and convex? Neither concave nor convex? ) and where (b) Consider defined on . 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 defined on . 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 )? Question 4 Convert each of the following minimization problems into a maximization problem (don’t solve the problems): (a) (b) (c) Question 5 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.

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