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Consider the function f(x,y) = (x 1)^2 +(y2)^2 1. a. Draw level curves for this function atf(x,y) = 1,2,3.You are asked to minimize this function
Consider the function f(x,y) = (x 1)^2 +(y2)^2 1.
a. Draw level curves for this function atf(x,y) = 1,2,3.You are asked to minimize this function subject to the constraint x +y a, where a is a parameter.
b. Write out the Lagrangian.
c. State the first order conditions.
d. For what values of a would the constraint be binding.
e. Use your level curves diagram to explain your answer
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