Question

The Indirect Utility function is =

12M3/27PxPy, where M is the income, P(x) is the price of commodity X and P(y) is the price of commodity Y. Calculate the Expenditure function for the same

A (0.44PxPyU)2/3

B (2.25 PxPyU)2/3

C (0.44 PxPyU)1/3

D (2.25 PxPyU)1/3

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The Indirect Utility function is =

Solution