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Suppose that choice sets are convex but we tastes may or may not be convex.(Assume all our other usual assumptions about tastes hold.) The first order conditions of the constrained utility maximization problem are then
Background
The context or setting, including previous experiences, cultural, social, or educational factors, influencing a person's situation or actions.
Electronic Presentations
A digital display of information using software tools, often incorporating text, images, and multimedia elements.
Profit
The financial gain obtained when the amount of revenue gained from a business activity exceeds the expenses, costs, and taxes involved in sustaining the activity.
United States
A country located in North America, consisting of 50 states and known for its significant influence in global politics, economy, and culture.
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