Kuhn tucker conditions and utility function, Macroeconomics

Assignment Help:

1. Kuhn - Tucker Conditions

 Max 2x + 3y

 s.t. pxX + pyY ≤ M. x ≥ 0, y ≥ 0

2. Max (8 + x)(8 + y)

 s.t. pxX + pyY ≤ M. x ≥ 0, y ≥ 0

Utility function

3. U(x, y) = x 1/3 y2/3

4. U(x, y) = 8x1/4y3/4

5.U (x, y) = min[2x, 3y]

Mux= 

Muy=

MRS=

x* (Px, Py, m)=

y* (Px, Py, M)=


Related Discussions:- Kuhn tucker conditions and utility function

Value of this expansion project, Bruno's Lunch Counter is expanding and exp...

Bruno's Lunch Counter is expanding and expects operating cash flows of $26,000 a year for 4 years as a result. This expansion requires $39,000 in new fixed assets. These assets wil

How do trade barriers affect international trade, Trade barriers come in a ...

Trade barriers come in a lot of forms. Quota is one. This is when a country sets a limit to the imported products. This is completed for a number of reasons. One is due to the gove

Trade in services, TRADE IN SERVICES: India had objected to  the  incl...

TRADE IN SERVICES: India had objected to  the  inclusion of  trade in services  in  the agreement for  the UR  negotiations. The  Indian negotiations continued to raise object

Neo-classical theory of trade, explain the neo-classical theory of trade an...

explain the neo-classical theory of trade and show the difference between this and the classical approach, as wellas the similarities

Classical economic theory, Between 2007 and 2009 the U.S. economy experienc...

Between 2007 and 2009 the U.S. economy experienced a severe recession. In an effort to stimulate the economy, the federal government passed a stimulus package. Explain the federal

Help i don''t know how to use this wb, i wan''t the answer of this Q Questi...

i wan''t the answer of this Q Question 3 (5 marks) Most studies of firms’ long run costs have found that average costs decline as firms produce increasingly larger output levels (

What do you mean by exchange rate, Q. What do you mean by Exchange rate? ...

Q. What do you mean by Exchange rate? Exchange rate is defined as the price of one unit of currency in terms of another currency. If one euro costs 1.5 USD then 1 USD costs 1/1

Write Your Message!

Captcha
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