Explain utility-maximizing conditions

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Reference no: EM13198031

The owner-manager of Good Guys Enterprises obtains utility from income (profit) and from having the firms behave in a socially conscious manner, such as making charitable contributions or civic expenditures.

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?

Reference no: EM13198031

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