What is second order condition for langrangian

Assignment Help Macroeconomics
Reference no: EM13659434

for a utility functionU(x1,x2)=x1^2 * x2^3 and budget constraint given by p1x1+p2x2=I when you write down the langrangian for this utility function, is x1^2x2^3+ ?[p1x1+p2x2-I] are the correct function? what is second order condition for langrangian function, for this specific case how to get its second order condition

Reference no: EM13659434

Questions Cloud

What must be the resistance of a heating coil : What must be the resistance of a heating coil which will be utilized to raise the temperature of 500 g of water from 28 degrees C to the boiling point in 2.0minutes, assuming that 25 % of the heat is lost? The heater operates on a 110-V line.
What is the change in this frequency : A spaceship is approaching a space station at a speed of1.8 x 105 m/s. The space station has a beacon that emits green light by a frequency of 5.96 x 1014 Hz. What is the frequency of the beacon observed on the spaceship?
A firm has the following short-run production function : A firm has the following short-run production function
Why did ownership of land and control of labor : Why did ownership of land and control of labor become major points of contention between former slaves and whites in the south?
What is second order condition for langrangian : What is second order condition for langrangian
Describe the process of dna repair and proofreading : Essay-describe the process of DNA repair and proofreading and describe the control process of cellular growth and reproduction.
Transformer is to be used to give power for computer disk : A transformer is to be used to give power for a computer disk drive that needs 6.0V (rms) instead of the 120 V (rms) from the wall outlet. The number of turns in the primary is 400. Discover the number of turns in the secondary?
Define the process of dna replication : Define the process of DNA replication and define the process of complementary base pairing in the process of DNA synthesis.
What was the most eye opening information : What was the most "eye opening" information you learned about droughts? Why did you find it so interesting?

Reviews

Write a Review

Macroeconomics Questions & Answers

  Calculate the price elasticity of demand for model t fords

Use this information to calculate the price elasticity of demand for Model T Fords. Use the midpoint formula in your calculation.

  Disinflation refers to a situation where

Which definition(s) of the money supply include(s) only items which are directly and immediately usable as a medium of exchange?

  Explain the difference between the population coefficient

Explain the difference between the population coefficient, i.e. ß(hat) and sample coefficient, i.e. ß. Also, please explain the difference between the OLS predicted Y (predicted dependent variable) and E(Y|X)

  Policymaking is much easier when the state of the economy

policymaking is much easier when the state of the economy is easly observable than when there is uncertainty about how

  What is the monopolist’s total cost function

Suppose a monopolist can purchase Labor at a price w = 27 and can purchase Capital at a price r = 3. The monopolist’s production function is given by Q = L1/2K1/2. The demand facing the monopolist is given by P = 402 – 6Q.

  Profit maximizing decision

XYZ Company operates in a perfectly competitive market. Due to robust economic growth XYZ company made above normal profits. Taking into account the characteristics of this market,

  There is an arithmetic gradient income from years 6-10 with

There is an Arithmetic Gradient Income from years 6-10 with a Base Annuity of $500.00 and an Annual Gradient G of +$50.00

  Explore how three leadership groups each in their own way

Explain what the various limitations are to a successful fiscal stimulus. Be sure to consider the damaging activities and decisions of (a) private corporations, (b) commercial banks, and (c) wealthy individuals. Explore how these three leadership ..

  What is your maximum consumer surplus if you accept the deal

Imagine cell phones are simple and the only thing consumers care about is minutes. Suppose a monopolist wireless company says, \The cell phone and the first 6 minutes are free, and the price of each additional minute is $2." Now suppose your deman..

  All workers are equally productive also workers vary

All workers are equally productive also workers vary in their preferences. Compute a worker who values his wage and the risk level according to the following utility functions

  Why are bond markets important

What are the four phases of a business cycle? How does money supply affect business cycles? What is the relationship between money supply growth and inflation? What is monetary policy? What is fiscal policy? What is the foreign exchange market?

  Violation of the law of demand

If you increase the vakue of your goods but sell more units is this a violation of the law of demand and how could input suppliers ever lower your profits?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd