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"A consumer consumes three goods. Let the utility function of the consumer be U(x) = Min[x1; x2; x3] . Then the preference relation is convex." State whether the statement is true or false with

 "A consumer consumes three goods. Let the utility function of the consumer be U(x) = Min[x1; x2; x3] . Then the preference relation is convex." State whether the statement is true or false with proper reason.

Apr 05 2021 View more View Less

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