Question
if you have a utility function of U(X, Y) = 2X 2 + XY + 3Y 2 subject to the constrain function 2X + Y
if you have a utility function of U(X, Y) = 2X2 + XY + 3Y2 subject to the constrain function 2X + Y = 60. what are you optional levels of utility for good X and good Y respectively? what is the value? solve using lagrangian methods of maximation.
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The World Economy Geography, Business, Development
Authors: Frederick P. Stutz, Barney Warf
6th edition
321722508, 321722507, 978-0321722508
