Simple Introduction to Lagrange Multipliers
A classic problem in economics is how to maximize utility despite limited resources, such as time and money. The Lagrangian method uses a technique from calculus to mathematically measure how consumers can achieve maximum satisfaction and businesses can maximize profit (or minimize costs) within given limits. (Source)
The person in the video isn’t me, by the way. I’m just so overjoyed to find an accessible introduction to the Lagrange method that I am sharing it with the world.