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asked 4 years ago

EconJohn gravatar image

Solving simple utility maximization problems in sage.

Hi all im a new user to sage as a software. Im a mod on the economics.se so I understand if this question does not meet site requirements.

Im interested in solving standard utility maximization problems in economics of the form:

u(x1,x2)=x0.71x0.32

subject to:

p1x1+p2x2=m

the goal of solving this problem would be to solve for the marshallian demand equations: x1(p1,p2,m)

x2(p1,p2,m)

I know how to solve this sort of problem with pen and paper however the appropriate sage code im not sure of.

Any help would be appreciated.

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updated 3 years ago

FrédéricC gravatar image

Solving simple utility maximization problems in sage.

Hi all im a new user to sage as a software. Im a mod on the economics.se so I understand if this question does not meet site requirements.

Im interested in solving standard utility maximization problems in economics of the form:

u(x1,x2)=x0.71x0.32

subject to:

p1x1+p2x2=m

the goal of solving this problem would be to solve for the marshallian demand equations: x1(p1,p2,m)

x2(p1,p2,m)

I know how to solve this sort of problem with pen and paper however the appropriate sage code im not sure of.

Any help would be appreciated.