# Answer to Question #30114 in Microeconomics for mulugeta

Question #30114

Given the following utility and expenditure function

Given by U=Xθ Yλ (utility function)

E=PxX+PyY (Expenditure function)

Where X= milk, Y= bread Px=price of x Py=price of y E=expenditure of the household

Derive the following

i. Minimum expenditure function (2 points)

ii. Hicksian demand function (2 points)

Given by U=Xθ Yλ (utility function)

E=PxX+PyY (Expenditure function)

Where X= milk, Y= bread Px=price of x Py=price of y E=expenditure of the household

Derive the following

i. Minimum expenditure function (2 points)

ii. Hicksian demand function (2 points)

Expert's answer

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