ECON201PSet3Answers

ECON201PSet3Answers - W ELLESLEY COLLEGE DEPARTMENT O F E...

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WELLESLEY COLLEGE DEPARTMENT OF ECONOMICS ECONOMICS 201-03 JOHNSON Answers to Problem Set #3 1. Use your "preferred" method for finding X* and Y*. I have done the Lagrangian for you below! I ' ~ -'1 M\):; ----r-J' '> ~ j (f)\)'1 ~ i > ~ l"\. - \, X X '3> . 1 S \ '\ \ ~ ~ r'f\ \J{\\.~\S'f\\ t- t..~1 \ \ . '\ . 1, S '''J \ ~ \J ~ , 'f ,RS '1- 'I:;' , '! 3 -- --=- ) 0\[\\<\ Y'f\ \ $''f\Q5 v.... ~. A , y... S~~\~~ C",,'lt)( b. ~" ~XLI~ t'f -t A [1- 'P~'k"?'1~1 "0 't- \ ~ \) ~ ~ -=) \:. ~ I . ::: -,' I~ - J\' ~ '0\ j\)< '0 -x. "f. \ ~~ \ - "A'? "'~ ~ A" -r o \1 ~"'\ '1 o't -' ~ ;: ?x 113 h~ 1-\\'J-:-~,\"\ - Q '1- ~ '1'1.3 _ ~~~j I~~ ~~7~ ?- "?" F ()'(' ~ > I~\ Cl~ 1- '/ ~ 3 ~'" ~." \( ~i-) 'I-- ~~~', X ~ -; r. /f x f''j. 2- ''1~~~ f1
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ECON201PSet3Answers - W ELLESLEY COLLEGE DEPARTMENT O F E...

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