Matches in DBpedia 2015-10 for { ?s ?p "In microeconomics, the expenditure minimization problem is another perspective on the utility maximization problem: "how much money do I need to reach a certain level of happiness?". This question comes in two parts. Given a consumer's utility function, prices, and a utility target, how much money would the consumer need? This is answered by the expenditure function. what could the consumer buy to meet this utility target while minimizing expenditure? This is answered by the Hicksian demand function."@en }
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- Expenditure_minimization_problem abstract "In microeconomics, the expenditure minimization problem is another perspective on the utility maximization problem: "how much money do I need to reach a certain level of happiness?". This question comes in two parts. Given a consumer's utility function, prices, and a utility target, how much money would the consumer need? This is answered by the expenditure function. what could the consumer buy to meet this utility target while minimizing expenditure? This is answered by the Hicksian demand function.".