Question

what is expenditure minimization​

Answer 1

Answer:

The expenditure minimisation problem (EMP) looks at the reverse side of the utility maximisa- tion problem (UMP). ... It enables us to calculate how much we need to compensate a consumer in response to a price change if we wish to keep her utility constant.

Answer 2

The expenditure minimisation problem (EMP) looks at the reverse side of the utility maximisa- tion problem (UMP).It enables us to calculate how much we need to compensate a consumer in response to a price change if we wish to keep her utility constant. 1

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