Sensitivity Analysis among Commodities and Prices: A Utility Maximization Perception

Devajit Mohajan and Haradhan Mohajan
Authors registered in the RePEc Author Service: Dr Haradhan Kumar Mohajan ()

MPRA Paper from University Library of Munich, Germany

Abstract: Utility maximization policy is essential for the sustainability of the firms and organizations. In this article, two Lagrangian multipliers are used to perform the research successfully. Moreover, the paper takes attempts to run with four commodities and two constraints, such as budget constraint, and coupon constraint. In the study, both Hessian and Jacobian are used to show the mathematical calculations precisely and concisely. The sensitivity analysis among two commodities and one price unit of commodity are included in this paper for forecasting on the economic model during the utility maximization procedure.

Keywords: Lagrange multipliers; sensitivity analysis; utility maximization (search for similar items in EconPapers)
JEL-codes: A11 A13 C3 C51 C61 C67 (search for similar items in EconPapers)
Date: 2022-12-10, Revised 2022-12-15
New Economics Papers: this item is included in nep-upt
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6)

Published in Law and Economy 2.2(2023): pp. 1-16

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