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A consumer's indirect utility function is given by V (p, y) = f(p)y. (a) What is the form of this consumer's expenditure function? (b) What kind of preferences does this consumer have?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

3. A consumer's indirect utility function is given by
V (p, y) = f(p)y.
(a) What is the form of this consumer's expenditure
function?
(b) What kind of preferences does this consumer
have?

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