Lecture-68 Expenditure Minimization as a Dual Problem of Utility Maximization

An Introduction to Microeconomics by Dr. Vimal Kumar, Department of Economic Sciences, IIT Kanpur. For more details on NPTEL visit nptel.ac.in

[@Muleslover]

Iam Mathematical Science student but Now I like Economics more than anything else. Please sir provide Microeconomics and International Economics.

[@adarshkrs584]

Thanks sir

[@sunitabania1156]

Nice sir....

[@Parameswar_Ghosal]

why I=e(p1,p2,u) ? please help me .........................

[@microeconomics-iitk1089]

In the second system, x_1 is a function of p_1, p_2, and u, x_2 is a function of p_1, p_2, and u. Therefore, total expenditure is equal to p_1 x_1 +p_2 x_2. Therefore, the total expediture is going to be a function of p_1, p_2 and U. This is the reason I write, I (which is total income as well as total expenditure) as a function of (p1,p2,u).

[@shivamnema5634]

Thanksgiving