Utility Maximization Using Lagrange Multiplier & Bordered Hessian Method

📚 Utility Maximization Using Lagrange method.In this video, I solve a Utility Maximization problem step by step using the Lagrange Multiplier Method and verify the solution using the Bordered Hessian Test. Problem: • Utility Function: U = x² + y² • Prices: Px = 1, Py = 1 • Income = 100 Many students make the mistake of stopping after finding the first-order conditions. However, it is important to check whether the critical point gives a maximum, minimum, or saddle point. In this tutorial, I explain the complete process in a simple and exam-oriented way. #economics #mathematics Topics Covered: ✅ Utility Maximization ✅ Consumer Equilibrium ✅ Lagrange Multiplier Method ✅ Bordered Hessian Method ✅ Maximum and Minimum Conditions ✅ Mathematical Economics ✅ Microeconomics Problems This video is useful for BA Economics, BSc Economics, MA Economics, UGC NET, CUET PG, and other competitive examinations. #Economics #Microeconomics #UtilityMaximization #LagrangeMultiplier #BorderedHessian #MathematicalEconomics