This video covers a core part of module III - Optimisation - Mathematical Economics PROBLEM NO. 2 - UTILITY MAXIMISATION BY USING LAGRANGE MULTIPLIER - STEP BY STEP SOLUTION
2. Given the utility function, U= f(q1,q2), price of commodity one, P1=5, price of commodity two, P2=12 and consumer’s income, y = 120. Find the equilibrium level of consumption of commodity q1 and q2?
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Негізгі бет PROBLEM NO. 2-UTILITY MAXIMISATION-LAGRANGE MULTIPLIER- MODULE 3-OPTIMISATION-MATHEMATICAL ECONOMICS
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