Quiz 3-1

Quiz 3-1 - Find optimal values satisfying above system Q2...

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Quiz 3-1 Total Marks 20 Lahore School of Economics BSC –II Section A Mathematical Economics II Spring 2012 Name:_____________________ Section:_______________ Q1: (a) Given the utility function and the constraint and optimal values are . Find and . [4] (b) Maximize subject to and [6] . Given the Lagrangian: and following necessary conditions for a point to be maximum
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Unformatted text preview: Find optimal values satisfying above system. Q2: Maximize subject to (a) Find consumer’s Marshallian demand functions and . [3] (b) Find the maximum value function . [1] (c) Deduce the minimum expenditure of the dual problem [3] (d) Verify Roy’s identity. [3]...
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