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Let R 2 be the consumption set of a consumer whose utility function is u(x) = 2x1 x2. Let v(p,w) represents the indirect utility function
Let R 2 be the consumption set of a consumer whose utility function is u(x) = 2x1 x2. Let v(p,w) represents the indirect utility function of the consumer and e(p,u) represents her expenditure function. Which one of the following is FALSE? A. v((1,1),20)=10 B. v((2,1),20)=20 C. e((2,1),20)=20
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