Asistensi 3 (3 Okt 2019)

Topics: Duality & Expenditure Minimization

Midterm Exam pak Teguh
1. If the indirect utility function of consumer as shown below:
33/4 𝑦
𝑉(𝑝1 , 𝑝2 , 𝑦) = 1/4 3/4
4𝑝1 𝑝2
Using the duality between the Utility Maximization Problem and the Expenditure Minimization
Problem, answer the following questions:
a. Find the expenditure function! (5 point)
b. Find the hicksian demand function! (7 point)
c. Find the original utility function! (11 point)
d. Show using example that the indirect utility function is homogenous degree zero in p and y! (7
point)

2. Jika fungsi utilitas tidak langsung (the indirect utility function) bentuknya seperti dibawah ini:
𝑉(𝑃1 , 𝑃2 , 𝑌) = 𝑌(𝑝12 + 𝑝22 )−0.5
dimana p adalah harga barang sedangkan Y adalah pendapatan. Dengan adanya dualitas antara the
Utility Maximization Problem dan the Expenditure Minimization Problem, maka tentukan nilai-nilai dibawah
ini:
a. Carilah the expenditure function! (5)
b. Carilah the hicksian demand function! (5)
c. Carilah the original utility function! (15)
d. Tunjukkan dengan contoh bahwa hasil 3.a (the expenditure function) bersifat homogenous
degree one in p! (5)

3. Jika pengeluaran (the expenditure function) bentuknya seperti dibawah ini:

𝑈 2 𝑃1 𝑃2
𝑒(𝑃1 , 𝑃2 , 𝑈) =
4(4𝑃1 + 𝑃2 )
dimana p adalah harga barang, U adalah utilitas dan e adalah expenditure. Dengan adanya dualitas
antara the Utility Maximization Problem dan the Expenditure Minimization Problem, maka tentukan nilai-
nilai dibawah ini:
i. Carilah the indirect utility function! (5)
ii. Carilah the hicksian demand function! (5)
iii. Carilah the original utility function! (12
iv. Carilah the walrasian/marshallian demand function! (15)