The satisfaction function for a consumer is: S = x' y where x and y is...

 

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The satisfaction function for a consumer is: S = x' y where "x" and "y" is the number of units of product X and Y that they can consume. The consumer is subject to a budget: 4x + 6y = 96 Using Lagrange multipliers, find the critical point. First match the lambdas, to find a relationship between x and y. How many units of X and Y will give you maximum satisfaction? The satisfaction function for a consumer is: S = x' y where "x" and "y" is the number of units of product X and Y that they can consume. The consumer is subject to a budget: 4x + 6y = 96 Using Lagrange multipliers, find the critical point. First match the lambdas, to find a relationship between x and y. How many units of X and Y will give you maximum satisfaction?

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