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Answer to Question #55112 in Other Economics for PRIYA GUPTA

Question #55112
(b) Why does the solution occur at a corner point only? Give reasons
Expert's answer
A corner solution is a special solution to an agent's maximization problem in which the quantity of one of the arguments in the maximized function is zero.
That's why the solution occurs at a corner point only, where there is a maximizing point.

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