| Thread Closed |
Profit and Utility Maximization |
Share Thread | Thread Tools |
| Apr22-08, 12:24 PM | #1 |
|
|
Profit and Utility Maximization
In economics of the firm we are given a production function and a budget constraint and asked to maximize production using Lagrange. We use the same technique to maximize consumer utility. But how can we determine the objective function in the case of utility? I don't see the point of performing utility maximization if utility can never be measured.
|
| Thread Closed |
| Thread Tools | |
Similar Threads for: Profit and Utility Maximization
|
||||
| Thread | Forum | Replies | ||
| Profit Maximization | Calculus & Beyond Homework | 1 | ||
| Maximization problem | Calculus & Beyond Homework | 7 | ||
| Profit Equation (need to maximze profit) | Calculus | 2 | ||
| Profit Equation (need to maximize profit) | General Math | 11 | ||
| Help!!! Calc Maximization | Calculus | 1 | ||