Lecture notes
Lecture 9 notes and textbook notes (ECO2045: Intermediate Microeconomics 1 (ECO2045) Intermediate Microeconomics a Modern Approach, ISBN: 9780393920772)
- Institution
- University Of Surrey (UNIS)
Expenditure Minimisation and Duality: Whereas the consumer maximization problem is about solving the problem of maximizing utility subject to a budget constraint, expenditure minimization is about minimizing the cost of achieving a given utility level. You will see that utility maximization and exp...
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