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Obtain a specific level of utility at lowest possible cost
Course:- Macroeconomics
Reference No.:- EM13188855





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the owner-manager of good guys enterprises obtains utility from income(profit)and from having the firm behave in a socially conscious manner, such as making charitable contributions or civic expenditures. can you set up the problem and derive the optimization conditions if the owner-manager wishes to obtain a specific level of utility at the lowest possible cost? do these conditions differ from the utility-maximizing conditions?




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