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Thank you for such a straight forward explanation. The division trick is also neat!
Thank you Ben! Came in very handy for my online exam.
My textbooks say you're supposed to ADD the lamda term with the constraint.
Maybe you're using Perloff? It's the same in the end, but you'd reverse the components of the constraint to preserve the sign e.g. fixed quantity component minus the production technology component.
Thank you for such a straight forward explanation. The division trick is also neat!
Thank you Ben! Came in very handy for my online exam.
My textbooks say you're supposed to ADD the lamda term with the constraint.
Maybe you're using Perloff? It's the same in the end, but you'd reverse the components of the constraint to preserve the sign e.g. fixed quantity component minus the production technology component.