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Question 2. Consider the exponential marginal value function discussed in class. Apply the following analysis on v(x) to be used for the criterion for which
Question 2. Consider the exponential marginal value function discussed in class. Apply the following analysis on v(x) to be used for the criterion for which the more the better. (a) Sketch the graphs of the function for 0. (=) (b) State if the function is convex or concave for each of the cases, explain the position of m values according to H and L, where H corresponds to the highest criterion in the function's domain and L corresponds to the lowest criterion in the function's domain. (c) In what case the function would be linear (state the values for and m in that case)? 1 (d) State if it is a decreasing or increasing return to scale for each case and briefly explain
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