Economic Investigation of Utility Maximization through Mathematical Analysis

Authors

DOI:

https://doi.org/10.26458/24122

Abstract

In this paper economic predictions among commodity prices and Lagrange multipliers are deliberated, where utility maximization policy is examined with sufficient mathematical investigation. In mathematical economics, utility reflects the propensity of an activity, which of course increases or decreases complete happiness of the individual/society. The system of Lagrange multiplier is a strongly valuable method in advanced calculus that is applied in this paper with a pair of constraints. This paper also tries to show the economic results of optimization precisely but elaborately.

Author Biography

Haradhan Kumar Mohajan, Premier University, Chittagong, Bangladesh.

Assistant Professor, Department of Management, Premier University, Chittagong, Bangladesh.

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Published

2024-06-06

How to Cite

Mohajan, H. K., & Mohajan, D. (2024). Economic Investigation of Utility Maximization through Mathematical Analysis. Annals of Spiru Haret University. Economic Series, 24(1). https://doi.org/10.26458/24122

Issue

Vol. 24 No. 1 (2024)

Section

ACADEMIA PAPERS

License

Copyright (c) 2024 Haradhan Kumar Mohajan, Devajit Mohajan

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