- Why does WebAuthn use only one factor?
- Cyber Security Career
- Can Someone Explain Exactly how this steganography software works & Pros/Cons?
- Do we need to have a private key on load balancer
- Does Speculative Store Bypass Attack Require Assembly/Source Code Knowledge?
- Why do some terms vanish in first-order perturbation theory?
- Thought Experiments to Corroborate Unification
- Do excited states contribute to temperature?
- Hot Chocolate- cooling itself down
- Linear Algebra for Quantum Physics
- Find direction of circular motion?
- Material with fairly high resistivity, but allows flow of charge
- Does paradox engine activate its own ability
- adb backup without settings
- Getting “Can't open this video” when attempting to open a video
- ADB cutting off most of my input
- Android Canvas draw exist measure to android screen
- Install android game on TV using USB
- Why is my newly built tube amp making a squealing sound and not passing audio?
- Control system error based on differential process value
Solving additively separable preference with Lagrange
Suppose that the preferences of a consumer are additively separable in goods 1 and 2, i.e., her utility function is of the form u(x1,x2) = v1(x1) + v2(x2), where v''i(·) < 0 for i = 1,2. The prices of the two goods are p1 and p2, and the exogenous income is m.
(a) Formulate the Lagrangian for this consumer’s constrained utility-maximisation problem. Make sure you indicate the three decision variables. Find the three ﬁrst-order necessary conditions. Denote the decisions variables that solve this system as x1*(p1,p2,m), x2*(p1,p2,m), and λ∗(p1,p2,m).
(b)Substitute the optimal solutions from part (a) into the three ﬁrst-order necessary conditions. Then, partially diﬀerentiate each of the three ﬁrst-order necessary conditions with respect to m. Solve for ∂x1*/ ∂m and ∂x2*/∂m using Cramer’s Rule. Are both goods normal?
I understand getting
as your 3 first order equations but really can't see where you are supposed to