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Introduction to the Lagrange Multiplier

This video gives a conceptual introduction to the Lagrange multiplier method of solving constrained optimization problems. It explains why the method is sometimes necessary, outlines why the method works, and then walks through the steps needed to solve for an optimum. For more information and a complete listing of videos by topic or textbook chapter, see http://www.economistsdoitwithmodels.com/economics-classroom/ For t-shirts and other merch, see http://www.economistsdoitwithmodels.com/merch/ By Economists Do It With Models http://www.economistsdoitwithmodels.com Facebook: http://www.facebook.com/economistsdoitwithmodels Twitter: http://www.twitter.com/jodiecongirl
Length: 19:20

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