ECON 117
Spring 2008
Mathematical Economics
Week 13
3.
Optimization with inequality constraints
3.1
The basic idea
Q)
→
\
\
is convex in
( ),
:
y
f
x
f
=
x
Let
x
solve
min
( )
x
f
x
Find the F.O.C. for
x
x
1
Q)
Let
x
solve:
0
min
( )
. .
x
f
x
s t
x
x
≥
Find the F.O.C. for
x
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