[Answer] What is the constraint optimisation question in words? Lecture 5

Answer: -Maximise (or minimise) something subject to some constraints.-e.g What's the best way for a consumer to choose between different affordable bundles of goods?-What's the best way for a firm to use its factor inputs (e.g labour and capital) to produce a given level of output.-What's the best way for the government to spend the limited tax revenues it is able to raise? drivers training

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What is the constraint optimisation question in words? Lecture 5 In mathematical optimization constrained optimization (in some contexts called constraint optimization) is the process of optimizing an objective function with respect to some variables in the presence of constraints on those variables. The objective function is either a cost function or energy function which is to be minimized or a reward function or utility function which is to be maximized. Constraints can … In mathematical optimization the method of Lagrange multipliers is a strategy for finding the local maxima and minima of a function subject to equality constraints (i.e. subject to the condition that one or more equations have to be satisfied exactly by the chosen values of the variables). It is named after the mathematician Joseph-Louis Lagrange.The basic idea is to convert a constrained ... Constrained optimization - Wikipedia Constrained optimization - Wikipedia Quadratic programming - Wikipedia Multi-objective optimization - Wikipedia Mathematical optimization (alternatively spelled optimisation ) or mathematical programming is the selection of a best element with regard to some criterion from some set of available alternatives. Optimization problems of sorts arise in all quantitative disciplines from computer science and engineering to operations research and economics and the development of solution methods has … Multi-objective optimization (also known as multi-objective programming vector optimization multicriteria optimization multiattribute optimization or Pareto optimization ) is an area of multiple criteria decision mak...

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