Continued with Chapter 4

6 Outubro 2022, 21:30 • Matthijs Oosterveen

Continued with Chapter 4 (cost minimization) and we discussed Lagrange and practiced with this constrained optimization method. I also introduced the interpretation for the lagrange multiplier as the shadow price. 

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Finished chapter 3 and started chapter 4

4 Outubro 2022, 18:00 • Matthijs Oosterveen

We finished Chapter 3 (profit function), discussed all the exercises, and started with Cost minimization (Chapter 4). Cost minimization includes constrained optimization, and the method of lagrange, which I will discuss in some detail.

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Finised chapter 2 and started chapter 3

29 Setembro 2022, 21:30 • Matthijs Oosterveen

We finished all the exercises of chapter 2 (profit maximization) and started with chapter 3 (profit function). After the last lecture that clarified the first and second order conditions discussing the exercises was way easier.

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Chapter 2 (profit maximization)

27 Setembro 2022, 18:00 • Matthijs Oosterveen

Finished the theoretical discussion on chapter 2 (profit maximization). I also explicitely discussed the first and second order conditions related to maximizing functions, which last week I assumed were known.

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Chapter 2

22 Setembro 2022, 21:30 • Matthijs Oosterveen

We continued with chapter 2 (Profit Maximization). Students had difficulty with the first and second order conditions for maximizing functions, so chapter takes longer than expected.

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