State the properties of expenditure functions

State the properties of expenditure functions

---

1. They are non - decreasing in prices.
2. They are homogeneous of degree one in prices.
3. They are concave in prices.

---

Jonmhumble answered the question on October 23, 2017 at 11:30

Exams With Marking Schemes

• Grade 1
• Grade 2
• Grade 3
• Grade 4
• Grade 5
• Grade 6
• Grade 7
• Grade 8
• Grade 9
• PP1
• PP2
• Playgroup
• Form 1
• Form 2
• Form 3
• Form 4

Related Questions

---

• What are the assumptions under ordinalist utility approach in economics? (Solved)
  

  What are the assumptions under ordinalist utility approach in economics?

  Date posted: October 22, 2017 .    Answers (1)

• Outline the challenges of young population. (Solved)
  

  Outline the challenges of young population.

  Date posted: October 21, 2017 .    Answers (1)

• Outline the problems associated with output approach as a way of measuring national income (Solved)
  

  Outline the problems associated with output approach as a way of measuring national income

  Date posted: October 21, 2017 .    Answers (1)

• What are the sources of monopoly power? (Solved)
  

  What are the sources of monopoly power?

  Date posted: October 21, 2017 .    Answers (1)

• List and explain factors that affect consumer sovereignty (Solved)
  

  List and explain factors that affect consumer sovereignty

  Date posted: October 18, 2017 .    Answers (1)

• List and explain the challenges faced in formulation of literature review (Solved)
  

  Give 5 answers and explain briefly

  Date posted: October 17, 2017 .    Answers (1)

• Highlight advantages and disadvantages of monopolistic competition (Solved)
  

  Highlight advantages and disadvantages of monopolistic competition

  Date posted: October 11, 2017 .    Answers (1)