Economics · Microeconomics
Which of the following statements are applicable to an individual's expenditure function? (A) It is homogeneous of degree zero in all prices. (B) It represents the minimum expenditure required to achieve a given level of utility. (C) It is non-decreasing in prices. (D) It is concave in prices. Choose the correct answer from the options given below:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
Share:
- 1(C) and (D) only✓
- 2(A) and (B) only
- 3(A), (B) and (C) only
- 4(A), (B), (C) and (D)
Correct answer
(C) and (D) only
Download Single Question PDF
Save this question and verified answer as a clean study sheet with live clickable link.
👥
Share with Friends & Study Groups
Challenge your peer aspirants on WhatsApp or Telegram to solve this question!
Online Test Series
Preparing for Economics?
Practice full-length Economics mock tests with real exam timers, instant score analysis, and all-India ranking.
Chapter Practice
Practice Microeconomics MCQs →Want more practice questions on Microeconomics?
Solve complete topic-wise tests with detailed solutions on GkGet.
Related Practice Questions
Recommended practice questions in Economics · Microeconomics