2.14 Concave and quasi-concave functions Show that if f(x) is a concave function then it is also...
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2.14 Concave and quasi-concave functions Show that if f(x) is a concave function then it is also a quasi-concave function. Do this by comparing Equation 2.114 (defining quasi-concavity) to Equation 2.98 (defining concavity). Can you give an intuitive reason for this result? Is the converse of the statement true? Are quasi-concave functions necessarily concave? If not, give a counterexample.
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Microeconomic Theory Basic Principles And Extensions
ISBN: 9780324585377
10th Edition
Authors: Walter Nicholson, Christopher M. Snyder
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