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Question 8 (1 point) Mark derives utility from watching movies and from playing computer games... a) The unique stationary point of Mark's constrained utility maximization
Question 8 (1 point) Mark derives utility from watching movies and from playing computer games... a) The unique stationary point of Mark's constrained utility maximization problem is given by a: @'r * m: :M b) The determinant of the bordered Hessian when evaluated at A E (c,m) = (1/27,1/4) is Iii(AN = 4/ c) In the blank below, enter "min" or "max" (without the quotes), depending on whether the bordered Hessian implies that the above stationary point is a constrained minimum or a constrained maximum. :l'v
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