File:Utility maximisation with a maximum function.png
Size of this preview: 663 × 600 pixels. Other resolutions: 265 × 240 pixels | 531 × 480 pixels | 796 × 720 pixels.
Original file (796 × 720 pixels, file size: 46 KB, MIME type: image/png)
 | This is a file from the Wikimedia Commons. Information from its description page there is shown below. Commons is a freely licensed media file repository. You can help. |
Summary
| Description |
English: As can be seen, there are three possible points where the two indifference curves intersect the orange budget line. The utility maximizing bundles would occur at either x = 0 or y = 0 depending on the price of the goods and the consumer's preferences. As can be seen, these two bundles are on a higher indifference curve therefore will give the consumer greater utility than the bundle x = y. Therefore, the utility maximizing bundle of a maximum function is at either of the corner solutions. |
| Date | |
| Source | Own work |
| Author | Cromwellecon |
Licensing
I, the copyright holder of this work, hereby publish it under the following license:
This file is licensed under the Creative Commons Attribution-Share Alike 4.0 International license.
- You are free:
- to share – to copy, distribute and transmit the work
- to remix – to adapt the work
- Under the following conditions:
- attribution – You must give appropriate credit, provide a link to the license, and indicate if changes were made. You may do so in any reasonable manner, but not in any way that suggests the licensor endorses you or your use.
- share alike – If you remix, transform, or build upon the material, you must distribute your contributions under the same or compatible license as the original.
File history
Click on a date/time to view the file as it appeared at that time.
| Date/Time | Thumbnail | Dimensions | User | Comment | |
|---|---|---|---|---|---|
| current | 01:25, 26 April 2021 | | 796 × 720 (46 KB) | Cromwellecon | Uploaded own work with UploadWizard |
File usage
No pages on the English Wikipedia use this file (pages on other projects are not listed).