| 1 | initial version |
With a little bit of playing with the code I found that the best way to solve this problem analytically is by specifying prices and income in the var() command. the code I've used is:
x, y, l, p, q, R= var('x, y, l, p, q, R') U = x^7/10 * y^3/10; U m = px+qy; m solve(m == R, y) L = U - l * (m - R); L dLdx = L.diff(x); dLdx dLdy = L.diff(y); dLdy dLdl = L.diff(l); dLdl solve([dLdx == 0, dLdy == 0, dLdl == 0], x, y, l)
| 2 | No.2 Revision |
With a little bit of playing with the code I found that the best way to solve this problem analytically is by specifying prices and income in the var() command. the code I've used is:
x, y, l, p, q, R= var('x, y, l, p, q, R')
U = x^7/10 * y^3/10; U
m = Where p,q and R are the prices of good x and good y and an arbitrary income level.
Very useful!
Copyright Sage, 2010. Some rights reserved under creative commons license. Content on this site is licensed under a Creative Commons Attribution Share Alike 3.0 license.