Lagrangian Cost Minimization Problem

[@angelofrisina9231]

This was so helpful. A perfectly walked through example, so clear, so easy to follow. Thank you very much for this content.

[@arira6719]

That was awesome and exactly what I needed! Thank you so much :D

[@onepeopletv6531]

This is simple and straightforward... Thank you very much.

[@erikjuma2752]

Very nice explanation....💪💪💪

[@guiborcictv]

As we have the cost function, shouldn't we plug the values on it to get the minimum cost that the firm would have to produce the 40 units?
Thank you a lot sir !

[@EconomicsinManyLessons]

Yes, that would be the next step. Plug the values for L and K back into the cost function to get the actual cost of producing 40 units of output.

[@guiborcictv]

@@EconomicsinManyLessons Thank you a lot sir, wish you all the best!

[@shalinc8840]

Very good video 👍🏽

[@isuruchanaka794]

Thankyou sir. ♥

[@collinskibet2992]

Great 👍👍

[@Varast09]

Hello, i have a different question where I end up with L+K and an other one with 3L=4K, how can I plug them in Q ? Thank you

[@missjaei1093]

Hello! How about if the given Q is a linear function? Im having hard time as I cannot get a lambda in terms of K and L.

[@barovierkevinallybose1040]

Videos that would be great, or links:
1. Engle Curve
2. Decomposition of sub and y effect using Hicks - solve mathematically
3. Comp and Equi variances

[@samuelaguzeyjunior4212]

why is it that we did not multiply the lamda by cost function buy rather production function. thank you

[@matthewkent4932]

How do you do this when the indices do not add to 1 ?

[@jacobtyler4894]

Would you have done anything differently if you were trying to maximize?

[@guitarnkeys831]

a firm will never want to maximize the cost of production

[@gjinkalla7121]

@@guitarnkeys831i think he meant profit maximisation

[@fifagamezzzz]

Hero. You are a hero.

[@EconomicsinManyLessons]

Thank you!

[@jkpark1908]

Adding Calculating the Cost would be the best maybe.

[@arunkumarsabar7906]

Sir how 8 and 36 came?

[@EconomicsinManyLessons]

I divided through by 0.5, so 18÷0.5 = 36

[@abcdef-ji7eu]

Thanks my man

[@EconomicsinManyLessons]

You are welcome!

[@florencezimba9263]

Thank you

[@EconomicsinManyLessons]

You are welcome!

[@JustprettyDora]

Thanks

[@EconomicsinManyLessons]

You are welcome!

[@raksyahya8269]

Pls check the final answer for me am not getting the same thing

[@MarioPenalti]

thanks G

[@asdcsd2682]

şuna bi bak

[@joaojunior2690]

Thank you

[@srawdnk]

thank you