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3. Prove that the set 3(1),!) = {x E R2:p1x1 +p2x2 + +pnsrn S I,wherep >> 0] is a convex set. Here, 11 >> I]
3. Prove that the set 3(1),!) = {x E R2:p1x1 +p2x2 + +pnsrn S I,wherep >> 0] is a convex set. Here, 11 >> I] means 19,- > {1 for all i. Hint: B(p, 1) contains all affordable bundles at prices p and income 1. Suppose the bundles (xx', ...,x,'1) and (xix; , 3:3,) are in B(p, I). Then we need to show that a convex combination ofthese bundles is also a member of B(p, I)
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