Why the lagrange multiplier is crucially used

Assignment Help Microeconomics
Reference no: EM132648820

Explain in technical details why the lagrange multiplier is crucially used in analyzing the theory of the consumer.

Further, as a managerial economist show how you can apply this technique to advise your company you work for to make sales without making loses and affecting your customers negatively.

Reference no: EM132648820

Questions Cloud

Find the equation for ic and derive the mrs : Consider the following Cobb-Douglas utility functionu (x1, 212x)= 2/3 lnx + 1/3lnx (a) Find the equation for IC and derive the MRS.
Define merits of exclusion in terms of efficiency and equity : Discuss the merits of this exclusion in terms of both efficiency and equity. Consider your own home state, does it exclude necessities, why or why not?
What is real gdp : Suppose that consumers become more pessimistic about the economy. This causes the price level to decrease as represented by the GDP deflator dropping to 98
Examine how the company could have done a better job : If you have you been involved with a company doing a redesign of business processes, discuss what went right during the redesign and what went wrong from your.
Why the lagrange multiplier is crucially used : Explain in technical details why the lagrange multiplier is crucially used in analyzing the theory of the consumer.
Calculate the lower and upper acceptable transfer price : Assume that the Body Lotion Division selling all the speackers at cost to Body Butter Division. Can they still get profit for their divison?
What is the percent change in real gdp : The government of a country decides to double its current level of spending, causing real GDP to increase from $20,000 to $120,000.
Elasticity of demand at the equilibrium price : The demand curve for a good is given by the equation P = 100 - 0.001Q and the supply curve is given by the equation P = 20 + 0.004Q
COMP8280 Mobile Data Networks Assignment : COMP8280 Mobile Data Networks Assignment Help and Solution, Macquarie University - Assessment Writing Service - What changes occur to the route

Reviews

Write a Review

Microeconomics Questions & Answers

  What is an injection into the circular flow

What is an injection into the circular flow? When, in theory, is an economy in equilibrium? The response must be typed, single spaced.

  What is the economic meaning of a recession

What is the economic meaning of a recession? · A brief discussion of fiscal policies · A brief discussion of monetary policies.

  How and why you think wef really obtains rankings of global

the world economic forum publishes an annual global competitiveness index that ranks the national competitiveness for

  Distinguish between collusive and non-collusive oligopoly

Distinguish between collusive and non-collusive oligopoly. Explain the following features of oligopoly.

  What would be total royalties the innovator could collect

Find the new equilibrium price, quantity, and profits of the industry. How much did the monopoly gain from the innovation and What can you say about.

  Because of the economic sanctions cast away islands cannot

because of the economic sanctions cast away islands cannot import hollywood movies or dvds. eunyoung is a super genius

  Determine the quantity that would be produced at this price

Algebraically, determine what price Katrina's Candies should charge in order for the company to maximize profit in the short run. Determine the quantity that would be produced at this price and the maximum profit possible

  The one he was on before the price of gas rose

Gus spends his income on gas for his car and food. The government raises the tax on gas, thereby raising the price of gas. But the government also lowers the income tax, thereby increasing Gus' income. And this rise in income is just enough to place ..

  Equilibrium relative-supply and demand

Suppose that the market for radios is perfectly competitive and there is the simultaneous increase in supply and demand. What can be said about the new equilibrium relative to one before the shifts in supply and demand occurred?

  Inventory in the statement of financial position

Clear Limited produces Plasma TV and distributes to retailers under her own house brand. Recent trend in market seems to favour adoption of TV using either LED technology.

  Utilitarian approach and rawlian approach

How would you allocate your resources between individual R and S if you want to satisfy the following approaches?

  Decreased the average selling price of its phones

Revenue at a major cellular telephone manufacturer was $2.3 billion for the nine months ending March 2, up 85 percent over revenues for the same period last year. Management attributed the increase in revenues to a 108 percent increase in shipments, ..

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