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Questions › JNU › JNU SIS 2011 › Q22
4 marks, −1Mathematics › Concavity, convexity and quasi-concavity › Convex sets and functionsEasyabout 1 min

JNU SIS 2011 Question 22: Concavity, convexity and quasi-concavity

The consumption set

C={(x, y)∈R+2;  x≥x∘>0 and y≥y∘>0}C = \{(x,\ y) \in \mathbb{R}^2_+;\ \ x \ge x^\circ > 0 \text{ and } y \ge y^\circ > 0\}C={(x, y)∈R+2​;  x≥x∘>0 and y≥y∘>0}

is

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The consumption set C = {(x, y) ∈ ℝ²₊; x ≥ x^∘ > 0 and y ≥ y^∘ > 0} is (A) bounded (B) convex (C) convex and bounded (D) Neither convex nor bounded

Also written as: The consumption set C = {(x, y) in R^2_+; x >= x^o > 0 and y >= y^o > 0} is

Concavity, convexity and quasi-concavity has come up 39 times in 6 exams since 2006.

What this question tests

This question is on Convex sets and functions, part of Concavity, convexity and quasi-concavity in Mathematics.

Sets and functions with no dents, and the inequalities that define them.

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Question from the JNU SIS 2011 paper. Solutions are TestStop's own. Not affiliated with or endorsed by any examination authority.