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Unformatted text preview: and be multipliers on the IC and promise keeping (and let ( H ) = ) FOC w.r.t c ( w, ) 1- 1 u ( c ( w, H )) + + = 0 (1- ) 1- 1 u ( c ( w, L )) + - = 0 FOC w.r.t w ( w, ) P ( w, H ) + + = 0 (1- ) P ( w, L ) + (1- ) - = 0 52...
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This note was uploaded on 12/10/2011 for the course MAT 121 taught by Professor Wong during the Fall '10 term at SUNY Stony Brook.
- Fall '10