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ECONOMICS 350, MATHEMATICAL ECONOMICS, INEQUALITY CONSTRAINTS 4. Application problems with one regular constraint a. Consumer Utility Maximization: A consumer wants to maximize its utility of

ECONOMICS 350, MATHEMATICAL ECONOMICS, INEQUALITY CONSTRAINTS

4. Application problems with one regular constraint a. Consumer Utility Maximization: A consumer wants to maximize its utility of consumption of x, and x2, subject to a budget constraint. The utility is u(x, X, )= xx, where 0

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