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managerial economics

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The Owner-manager of Good Guys Enterprises obtains utility from income (profit) and from having the firm behave in a socially conscious manner, such as making charitable contributions or civic expenditures. Can you set up the problem and derive the optimization conditions if the owner-manager wishes to obtain a specific level of utility at the lowest possible cost? Do these conditions differ from the utility-maximizing conditions?

  • managerial economics -

    The owner-manager of Good Guys Enterprise obtains utility from income (profit) and from having the firm behaves in a socially conscious manner, such as making charitable contributions or civic expenditures. Can you set up the problem and derive the optimization conditions if the owner-manager wishers to obtain a specific level of utility at the lowest possible cost. Do these conditions differ from the utility-maximizing conditions

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