Utility 3: Maximizing Utility with Budget Constraint
How to solve a constrained optimization problem with a utility function and budget constraint; maximizing utility. Just set the slope of the budget line = slope of indifference curve! MRS The Easy Way: https://youtu.be/iUD3avEYENY My Website: http://www.burkeyacademy.com/ Support me on Patreon! https://www.patreon.com/burkeyacademy Talk to me on my SubReddit: https://www.reddit.com/r/BurkeyAcademy/ Buy me a cup of coffee on PayPal? http://paypal.me/BurkeyAcademy
How to solve a constrained optimization problem with a utility function and budget constraint; maximizing utility. Just set the slope of the budget line = slope of indifference curve! MRS The Easy Way: https://youtu.be/iUD3avEYENY My Website: http://www.burkeyacademy.com/ Support me on Patreon! https://www.patreon.com/burkeyacademy Talk to me on my SubReddit: https://www.reddit.com/r/BurkeyAcademy/ Buy me a cup of coffee on PayPal? http://paypal.me/BurkeyAcademy