Convex preferences quasi-concave utility functions, although these are not necessary for the analysis of preferences. Convex preferences In economics, convex preferences are an individual's ordering of various outcomes, typically with regard to the amounts of various goods consumed, with the property that, roughly speaking, "averages are better than the extremes". The concept roughly corresponds to the concept of diminishing marginal utility without requiring utility functions. Comparable to the greater-than-or-equal-to ordering relation formula_1 for real numbers, the notation formula_2 below can be translated as: 'is at least as good as' (in preference satisfaction). Similarly, formula_3 can be translated as 'is strictly better than'
Refracting telescope principles. The combination of an objective lens 1 and some type of eyepiece 2 is used to gather more light than the human eye is able to collect on its own, focus it 5, and present the viewer with a brighter, clearer, and magnified virtual image 6. The objective in a refracting telescope refracts or bends light. This refraction causes parallel light rays to converge at a focal point; while those not parallel converge upon a focal plane. The telescope converts a bundle of parallel rays to make an angle α, with the optical axis to a second parallel bundle