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see the image: To test for convex preferences, the following theorem is useful. Theorem. A twice-differentiable utility function U(x,y) represents convex preferences if and only

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To test for convex preferences, the following theorem is useful. Theorem. A twice-differentiable utility function U(x,y) represents convex preferences if and only if (1) UU, -2U UU +U U.

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