NEKG33 Mathematical methods for economists
Chapter 26 : Day 26
By Lund University
Once we know how to do partial derivatives, optimizing a function of two variables is the next step.
Optimization, two variables
This section is about optimization of a function of two variables. We will look at necessary and sufficient conditions for a local optimum point and optimization of convex and concave functions. The optimization problem is very similar to optimization of a function of one variable, replacing ordinary derivatives with partial derivatives.
Optimizing a function of 2 variables, necessary conditions
Optimizing a function of 2 variables, sufficient conditions
Optimizing a function of 2 variables, additional results
Multivariable optimization, n variables
Exercises on multivariable optimization