Let Y be the production possibility set for a single-output technology and V(y) denote the corresponding input

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Let Y be the production possibility set for a single-output technology and V(y) denote the corresponding input requirements sets
V(y) = {x ∊ ℜn+: (y, - x) ∊ Y}
Then Y is convex if and only if V(y) is a convex correspondence.

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Foundations of Mathematical Economics

ISBN: 978-0262531924

1st edition

Authors: Michael Carter

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Question Posted: May 02, 2016 11:37 AM

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Let Y be the production possibility set for a single-output technology and V(y) denote the corresponding input

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Foundations of Mathematical Economics

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