Convex strictly concave strictly a consider defined

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: 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...
View Full Document

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.

Ask a homework question - tutors are online