Question 1 Consider a rm whose set Y of technologically feasible production plans is nonempty and compact. For each market price vector p E 131+,
Question 1 Consider a rm whose set Y of technologically feasible production plans is nonempty and compact. For each market price vector p E 131+, let 7r(p) be the maximum prot of the rm when taking price p as given. Please show that the prot function 11' : R1+ > R is a convex function
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