Unformatted text preview: and income. (c) Find the indirect utility function V [ p x , p y , I ]. (d) Find the expenditure function E [ p x , p y , U ]. (e) Find the compensated demand function (don’t worry about simplifying your answer). 2. Problem 5.5 (page 174) 1...
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 Fall '09
 Morrill
 demand functions, Hicksian demand function, Expenditure minimization problem, Legrangian multiplier method

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