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In microeconomics, the expenditure function represents the minimum amount of expenditure needed to achieve a given level of utility, given a utility function and the prices of goods.
Properties, Example & Expenditure and indirect utility
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utility function displaystyle expenditure geq prices goods indirect prime level suppose cdot price textbf constraint homogeneous isbn increasing theory problem
| Subject | Predicate | Object | Confidence | Src |
|---|---|---|---|---|
| Expenditure function | is a | inverse of the indirect utility function when the prices are kept constant | 0.90 | text |
| Expenditure function | is a | important theoretical method to study consumer behavior | 0.90 | text |
| Expenditure function | related to Example | Suppose | 0.60 | section |
| Expenditure function | related to Example | Cobb-Douglas | 0.60 | section |
| Expenditure function | related to Example | One | 0.60 | section |
| Expenditure function | related to Example | The | 0.60 | section |
| Expenditure function | related to Expenditure and indirect utility | The | 0.60 | section |
| Expenditure function | related to Expenditure and indirect utility | There | 0.60 | section |
| Expenditure function | related to Expenditure and indirect utility | If | 0.60 | section |
| Expenditure function | related to Expenditure and indirect utility | In | 0.60 | section |
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