Question: A decision maker's objective function is f (x; y) = x(y + 4) and he/she faces the constraint x + y = c; where c

A decision maker's objective function is f (x; y) = x(y + 4) and he/she faces the constraint x + y = c; where c is a positive constant. Find out (x*, y*) and the Lagrangian multiplier that satisfy the First-order condition. Determine whether (x*, y*) is a local maximizer or a local minimizer or neither.

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