lagrange: Method of Lagrange Multipliers
Name:
lagrange
Type:
Description:
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
num
exercises 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.Solution feedback:
Yes
Randomization:
Random numbers, text blocks, and graphics
Mathematical notation:
Yes
Verbatim R input/output:
No
Images:
Yes
Other supplements:
No
(Note that the HTML output contains mathematical equations in MathML, rendered by MathJax using ‘mathjax = TRUE’. Instead it is also possible to use ‘converter = “pandoc-mathjax”’ so that LaTeX equations are rendered by MathJax directly.)
Demo code:
library("exams")
set.seed(403)
exams2html("lagrange.Rmd", mathjax = TRUE)
set.seed(403)
exams2pdf("lagrange.Rmd")
set.seed(403)
exams2html("lagrange.Rnw", mathjax = TRUE)
set.seed(403)
exams2pdf("lagrange.Rnw")