Chidi’s budget and utility: doing algebra and calculus with R and yacas
Read OriginalThis technical article demonstrates how to use R, along with the yacas library for symbolic algebra, to solve a microeconomics optimization problem. It involves finding the optimal consumption levels of two goods (pizza and frozen yogurt) given a budget constraint and a utility function, applying calculus and algebra to find where marginal rates are equal. The tutorial is aimed at combining programming, mathematics, and economic theory.
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