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Lagrange multiplier problems in economics. (English) Zbl 0565.90007

This paper is a pedagogical introduction to how economists use the techniques of constrained maximization in developing economic theory. The main illustration is taken to be the choice problem of the single consumer who decides his/her consumption of different goods, together with the decision on the amount of labor supplied. The material is primarily suitable for teaching purposes.
Reviewer: S.Honkapohja

MSC:

91B38 Production theory, theory of the firm
90C90 Applications of mathematical programming
91B10 Group preferences
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