Show that the indirect utility function is quasi convex.

Question:

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Foundations of Mathematical Economics

ISBN: 978-0262531924

1st edition

Authors: Michael Carter

See More Books

Question Posted: May 02, 2016 11:42 AM

See More Questions

Show that the indirect utility function v(p,m) (example 2.90) is homogeneous of degree zero in p and m. Analogous to convex functions (proposition 3.7), linearly homogeneous functions can be...
Show that the indirect utility function is decreasing in p. u( p, ni) sup u(x) =
Suppose that a persons utility function is U(x) = x2 for x 0. Show that the person will always prefer to take a gamble in which she will receive a random gain of X dollars rather than receive the...
An excise tax of $1.00 per gallon of gasoline placed on the suppliers of gasoline would shift the supply curve Multiple Choice O down by $1.00. down by more than $1.00. up by $1.00. up by less than...
Use the following time-series data to answer the given questions. a. Develop forecasts for periods 5 through 10 using 4-month moving averages. b. Develop forecasts for periods 5 through 10 using...
In Class, 1025 Minutes for Teams As the board of a major global company with a multitude of different brands being sold in various countries around the world, how would you organize your brand and...
In terms of Dunnings eclectic paradigm, describe the ownership-specific advantages, location-specific advantages, and internalization advantages that Unilever holds. Which of these advantages do you...
Refer to Exercise E25-13. Assume that Best Video can avoid $45,000 of fixed costs by dropping the DVD product line (these costs are direct fixed costs of the DVD product line). Prepare a differential...
help here Which of the following journals would 3 points a company use to record cash payment to creditors?.** Cash receipts journal Purchases journal Cash Payment journal Sales journal General...
Wade has a beginning basis in a partnership of $23,000. His share of income and expense from the partnership consists of the following amounts: Ordinary income.$43,000 Guaranteed payment12,000...
A functional f is quasiconvex if and only if every lower contour set is convex; that is, is convex for every a . {xe X:f(x) < c} 3,(c) =
If f is quasi concave and g is increasing, then g f is quasi concave.
Two wires have been placed close together on a chip. They are so close, in fact, that the larger wire (the aggressor) couples to the smaller wire (the victim) and causes the voltage on the victim...
If f ( x ) = - 6 x ^ 2 sin ( 3 x ) + 4 x cos ( 3 x ) what if f ' ( x ) ?
What is deformation?
What is a switched capacitor circuit?How do we design a switched capacitor circuit?
What is meant by wavelet fault diagnosis of an induction motor?
How do we design an electromagnetic relay?
The constants R and L of a coil can be obtained by connecting the coil in series with a known resistance and measuring the coil voltage V x , the resistor voltage V 1 , and the total voltage V T...
Express these numbers in standard notation. a. 2.87 10-8 b. 1.78 1011 c. 1.381 10-23
Let be the sample space = {0, 1, 2 . . .}, And define a distribution function by m (j) = (1 r)j r , For some fixed r, 0 < r < 1, and for j = 0, 1, 2,. Show that this is a distribution function for .
Tversky and Kahneman23 asked a group of subjects to carry out the following task. They are told that: Linda is 31, single, outspoken, and very bright. She majored in philosophy in college. As a...
A life table is a table that lists for a given number of births the estimated number of people who will live to a given age. In Appendix C we give a life table based upon 100,000 births for ages from...
There is a credit rating agency for businesses that gives out various amounts of information based on the subscription level. This company is called a. Business Credit Scoring b. Fair Issue c. Dun...
Current Attempt in Progress On July 3 1 , 2 0 2 2 , Crane Compary had a cash balance per books of $ 6 , 2 4 5 . 0 0 . The statement from Dakata State Bark on that date showed a balance of $ 7 , 7 9 5...
Cede & Co. expects its EBIT to be $89,000 every year forever. The firm can borrow at 5 percent. Cede currently has no debt, and its cost of equity is 10 percent. If the tax rate is 35 percent, what...

Show that the indirect utility function is quasi convex.

Question:

Step by Step Answer:

For given c and m choose any p and p2 in SvcF or any 0 a 1 l...View the full answer

Foundations of Mathematical Economics

Students also viewed these Numerical Analysis questions