Re: quasi concavity/quasi convexity.

Posted by Dreyfus on Jun 16, 2015; 7:33pm
URL: http://discussion-forum.276.s1.nabble.com/quasi-concavity-quasi-convexity-tp7597816p7597857.html

Hi Lucy, just plot the level curves for this function with some constant c = max{L,K}. On plotting you will find that the level curves are mirror image of inverse L shaped curves and the convex set is the lower level set not the upper level set.
And also Since L and K are linear functions thus they are both convex and concave functions but Q(L,K)=max(L,K) is a "Convex function" not "Concave function"!