Question B.3 Consider the minimization problem M(p, y) = min x U(x) s.t. p1 · x1 + ... + pn · xn ≤ y where U : Rn → R is continuous. Prove that the function M(p, y) : Rn + × R+ → R is quasi-concave. [Hint: the subscript + means that all elements of a vector are non negative and at least one is strictly larger than zero.]
Question B.3 Consider the minimization problem M(p, y) = min x U(x) s.t. p1 · x1 + ... + pn · xn ≤ y where U : Rn → R is continuous. Prove that the function M(p, y) : Rn + × R+ → R is quasi-concave. [Hint: the subscript + means that all elements of a vector are non negative and at least one is strictly larger than zero.]
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter8: Applications Of Trigonometry
Section8.3: Vectors
Problem 60E
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Question B.3
Consider the minimization problem
M(p, y) = min x U(x)
s.t. p1 · x1 + ... + pn · xn ≤ y
where U : Rn
→ R is continuous.
Prove that the function M(p, y) : Rn
+ × R+ → R is quasi-concave.
[Hint: the subscript + means that all elements of a
negative and at least one is strictly larger than zero.]
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