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Math Help - Undergrad Hicksian minimize expenditure with budget constraint question!

  1. #1
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    Exclamation Undergrad Hicksian minimize expenditure with budget constraint question!

    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!
    Last edited by mr fantastic; May 4th 2011 at 05:41 AM. Reason: Title.
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  2. #2
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    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
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  3. #3
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    I want to know how to minimize expenditure using the function and the values given.
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  4. #4
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    your question is still ambiguous. in this reply I assume you want to compute the hicksian demand function.



    solve this optimisation problem:

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