Computing the solution to a cost minimization problem subject to an output constraint where the production fuction with arguments capital and labor is of Cobb-Douglas type. As
numexercises have only a single numeric solution (and to make test takers read the exercise carefully), one of three natural quantities in the optimum is selected randomly as the question: the first argument (capital), the second argument (labor), or the minimal function value (costs). The optimal solution is also displayed graphically using a contour plot.
Random numbers, text blocks, and graphics
Verbatim R input/output:
(Note that the HTML output contains mathematical equations in MathML. It is displayed by browsers with MathML support like Firefox or Safari - but not Chrome.)
library("exams") set.seed(1090) exams2html("lagrange.Rnw") set.seed(1090) exams2pdf("lagrange.Rnw") set.seed(1090) exams2html("lagrange.Rmd") set.seed(1090) exams2pdf("lagrange.Rmd")