Answer to Question #30114 in Microeconomics for mulugeta

Question

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)