makes the consumer better off:

Convexity

The assumption of convexity states that the consumer prefers "average" bundles over extreme ones.

More formally: suppose that and where . Then, .

In simple words, suppose that the consumer is indifferent between and , and is a bundle that is a weighted average of and with weights and respectively, then is no worse than or .

If the preference relation exhibits strict convexity than . That is,

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