Solve the general Cobb-Douglas utility maximization problem max u(x) = x 2 X,

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Solve the general Cobb-Douglas utility maximization problem

subject to p1x1 p2x2 +..........+ pnxn = m
[Follow the technique in example 5.23.]

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Foundations of Mathematical Economics

ISBN: 978-0262531924

1st edition

Authors: Michael Carter

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Question Posted: May 02, 2016 11:53 AM

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Solve the general Cobb-Douglas utility maximization problem max u(x) = x 2 X,

Question:

max u(x) = x" 2 X,

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The Lagrangean is The firstorder condition...View the full answer

Foundations of Mathematical Economics

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