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Three (25 marks) Use the Lagrange technique to maximize utility = + subject to the budget constraint 6 + 2 = 110. Use Cramer's Rule
Three (25 marks) Use the Lagrange technique to maximize utility = + subject to the budget constraint 6 + 2 = 110. Use Cramer's Rule to find the optimal values of , , . Show the bordered Hessian Matrix and use it to determine if there is a maximum or minimum. b
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