Consumer Behaviour #5 - Utility Maximization Problem - Theory, Mathematics & Diagram (Lagrangian)

Описание к видео Consumer Behaviour #5 - Utility Maximization Problem - Theory, Mathematics & Diagram (Lagrangian)

‪@EcoShibajee‬ After Budget Line, next is UMP. First some important missing theories are discussed to help in optimisation of all functions. Then the Lagrangian method of undetermined multiplier along with full derivation of MRS=p1/p2. Bordered Hessian is mentioned in the end. Please watch, like & subscribe.
Chapters:
00:00 - 05:13 - Theorem on UMP & Limitations
05:15 - 20:01 - Complete Derivation of MRS = p1/p2
20:01 - 20:32 - Next Two Classes

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