Bman12345
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Hi there,
I have what I suspect is a straightforward question.
I wish to take the total derivative of the following function:
W(q,x) = q \cdot u(x) + c(q,x)
Subject to the constraint: \frac{q}{x}=\bar{m}, where \bar{m} is some constant > 0, and c(q,x) is additively separable.
Without the constraint the total derivative is simply:
dW(q,x) = u(x) dq + q \cdot u_{x} dx + c_{q}(q,x) dq + c_{x}(q,x) dx
My question is: How do I incorporate the constraint?
Thanks for any help!
Brent.
I have what I suspect is a straightforward question.
I wish to take the total derivative of the following function:
W(q,x) = q \cdot u(x) + c(q,x)
Subject to the constraint: \frac{q}{x}=\bar{m}, where \bar{m} is some constant > 0, and c(q,x) is additively separable.
Without the constraint the total derivative is simply:
dW(q,x) = u(x) dq + q \cdot u_{x} dx + c_{q}(q,x) dq + c_{x}(q,x) dx
My question is: How do I incorporate the constraint?
Thanks for any help!
Brent.