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Suppose h (p, u) minimizes the expenditure given (p, u). The corresponding expenditure function is e (p, u). Use both graph and words to prove
Suppose h (p, u) minimizes the expenditure given (p, u). The corresponding expenditure function is e (p, u). Use both graph and words to prove the following statement: h (p, u) also maximizes the utility given the expenditure level m = e (p, u) and price p.
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