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Lecture 9 notes and textbook notes (ECO2045: Intermediate Microeconomics 1 (ECO2045) Intermediate Microeconomics a Modern Approach, ISBN: 9780393920772) $6.35   Add to cart
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Lecture 9 notes and textbook notes (ECO2045: Intermediate Microeconomics 1 (ECO2045) Intermediate Microeconomics a Modern Approach, ISBN: 9780393920772)
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  • Course
  • ECO2045: Intermediate Microeconomics 1 (ECO2045)
  • Institution
  • University Of Surrey (UNIS)
  • Book
  • Intermediate Microeconomics: A Modern Approach

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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Document information

  • January 8, 2023
  • 7
  • 2022/2023
  • Class notes
  • David
  • Week 1, week 2, week 4, week 9

Subjects

  • hicks substitution effect
  • slutsky equation
  • the lagrange method
  • preferences
  • expenditure minimisation and duality

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  • University of Surrey (UNIS)
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  • ECO2045: Intermediate Microeconomics 1 (ECO2045)
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