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consumer has a conditional expenditure function : y = e(po, P1', P2', . . . , Pn'; u) = e(p, u) solves min ) pix;
consumer has a conditional expenditure function : y = e(po, P1', P2', . . . , Pn'; u) = e(p, u) solves min ) pix; such that u(x) = u (1)8. Explain the conditional expenditure function in equation (1). Express this equation in a traditional constrained optimization Lagrangian format. What is the consumer's objective? Constraint
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