hi, can you please tell me how to minimize my expenditure using hick's demand function?
say i have utility=x_1+lnx_2
budget constraint = p_1x_1+p_2x_2 and income=m
I really appreciate the help!
hi, can you please tell me how to minimize my expenditure using hick's demand function?
say i have utility=x_1+lnx_2
budget constraint = p_1x_1+p_2x_2 and income=m
I really appreciate the help!
are you asking how to obtain the hicksian demand function, or how to use it to minimise expenditure?
wikipedia tells you how to obtain the function (your course notes should too!)
Hicksian demand function - Wikipedia, the free encyclopedia