Is the Function u(c, l) = 20000c + c^2 + l Quasiconcave?

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Alesak
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My teacher is telling me that the below function is quasiconcave, but I think it is not.

Homework Statement


Show that u(c, l) = 20 000 c + c2+ l is or is not quasiconcave, in the first quadrant. c>=0 and l>=0.

Homework Equations


From wikipedia:
quasiconcave function has convex upper contour sets.

The Attempt at a Solution


I've rewriten it, for some level curve, as l = M + 10000 + (c+100)2, so it looks like a circle. Since the function u is increasing in both arguments, the upper level set looks like the outside of the circle, which is not convex, therefore the function is not quasiconcave. Correct? We are talking here only about the first quadrant.
 
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  • #2
I don't think it is quasiconcave in the first quadrant. The level curves I get are parabolas, not circles, but in any case, the upper level sets in the first quadrant are shapes that curve around like a parabola and are not convex. Have you talked to your teacher again about this?
 
  • #3
Alesak said:
My teacher is telling me that the below function is quasiconcave, but I think it is not.

Homework Statement


Show that u(c, l) = 20 000 c + c2+ l is or is not quasiconcave, in the first quadrant. c>=0 and l>=0.

Homework Equations


From wikipedia:



The Attempt at a Solution


I've rewriten it, for some level curve, as l = M + 10000 + (c+100)2, so it looks like a circle. Since the function u is increasing in both arguments, the upper level set looks like the outside of the circle, which is not convex, therefore the function is not quasiconcave. Correct? We are talking here only about the first quadrant.

It is a conVEX function on the whole space -∞ < c < ∞, -∞ < I < ∞. Thus, it is quasiconVEX (because a convex function is automatically quasiconvex as well).

RGV
 

FAQ: Is the Function u(c, l) = 20000c + c^2 + l Quasiconcave?

What is quasiconcavity of a function?

Quasiconcavity is a property of a mathematical function that describes its shape and behavior. A function is considered quasiconcave if its graph is always above its tangent lines, meaning that it is always curving downwards.

How is quasiconcavity different from concavity?

While both quasiconcavity and concavity describe downward curving functions, quasiconcavity is a weaker condition. A function can be quasiconcave without being concave, but it cannot be concave without being quasiconcave.

What are the implications of a function being quasiconcave?

A quasiconcave function has several important implications, including that it has a unique global maximum, its level sets are convex, and it has a well-behaved optimization problem.

How is quasiconcavity related to convexity?

A function is convex if its graph lies entirely above its tangent lines, while a function is quasiconcave if its graph lies above its tangent lines. This means that all convex functions are also quasiconcave.

Are there any real-world applications of quasiconcavity?

Quasiconcavity is commonly used in economics and optimization problems, as it allows for the analysis and optimization of functions with unique global maxima. It is also applicable in areas such as engineering, finance, and computer science.

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