Are posynomial functions convex?

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I know that you can transform a posynomial function into an exponential function, which is convex. Does this imply that all posynomial functions are convex?

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No, that conclusion does not hold because generally, the product of two convex functions need not be convex.

As an example, $f(x, y) = x y^{-1}$ (for $x, y > 0$) is a posynomial function, but not convex: $$ f(\frac{1+5}{2}, \frac{1+3}{2}) = \frac 32 > \frac 43 = \frac 12 \left( f(1, 1) + f(5, 3)\right) $$