Q3 Consider the problem: max U = xy³ subject to x² + y² ≤ 200 x + y ≤20 x, y≥0 a) Write down the Kuhn-tucker conditions. b) Find the solution. c) Which constraint(s) is/are binding? 2 Marks 6 Marks 2 Marks
Q3 Consider the problem: max U = xy³ subject to x² + y² ≤ 200 x + y ≤20 x, y≥0 a) Write down the Kuhn-tucker conditions. b) Find the solution. c) Which constraint(s) is/are binding? 2 Marks 6 Marks 2 Marks
Chapter2: Mathematics For Microeconomics
Section: Chapter Questions
Problem 2.12P
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Transcribed Image Text:Q3 Consider the problem:
max U = xy³
subject to
x² + y² ≤ 200
x + y ≤20
x, y≥0
a) Write down the Kuhn-tucker conditions.
b) Find the solution.
c) Which constraint(s) is/are binding?
2 Marks
6 Marks
2 Marks
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