Max U = U(L,q)
Subject to wT +V ≥ wL + pq
T ≥ H ≥ 0
Where U = β0ln(L – γ0) + βln(q – γ)
To give:
H = (T - γ0)(1 - β0) - β0 / w (V - p γ)
Is this problem solved by the Lagrange Multiplier method?
Printable View
Max U = U(L,q)
Subject to wT +V ≥ wL + pq
T ≥ H ≥ 0
Where U = β0ln(L – γ0) + βln(q – γ)
To give:
H = (T - γ0)(1 - β0) - β0 / w (V - p γ)
Is this problem solved by the Lagrange Multiplier method?