Consider the net revenue function given by S(p, u, v) = R(p, v) – E(p, u) in our usual notation. Letting m denote the vector of imports, Select one: O a. S(.) is convex in p and Sp=m. O b. S(.) is convex in p and Sp=-m. O c. S(.) is concave in p and Sp=-m. O d. S(.) is concave in p and Sp=m.

Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
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Chapter2: Second-order Linear Odes
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Consider the net revenue function given by
S(p, u, v) = R(p, v) – E(p, u) in our usual notation.
Letting m denote the vector of imports,
Select one:
a. S(.) is convex in p and Sp=m.
O b. S(.) is convex in p and Sp=-m.
O c. S(.) is concave in p and Sp=-m.
d. S(.) is concave in p and Sp=m.
Transcribed Image Text:Consider the net revenue function given by S(p, u, v) = R(p, v) – E(p, u) in our usual notation. Letting m denote the vector of imports, Select one: a. S(.) is convex in p and Sp=m. O b. S(.) is convex in p and Sp=-m. O c. S(.) is concave in p and Sp=-m. d. S(.) is concave in p and Sp=m.
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