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Microeconomic Theory 11th Edition by Walter Nicholson,Christopher Snyder
Edition 11ISBN: 978-1111525538Microeconomic Theory 11th Edition by Walter Nicholson,Christopher Snyder
Edition 11ISBN: 978-1111525538 Exercise 3
Suppose that f (x, y) = xy. Find the maximum value for f if x and y are constrained to sum to 1. Solve this problem in two ways: by substitution and by using the Lagrange multiplier method.
Explanation
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Substitute goods are those good that can
Microeconomic Theory 11th Edition by Walter Nicholson,Christopher Snyder
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