Question: A consumer's indirect utility function is given by v(p,y ) = g(p)y. It satisfies all the required properties of an indirect utility function. Then, (a)

A consumer's indirect utility function is given by v(p,y ) = g(p)y. It satisfies all the required properties of an indirect utility function. Then, (a) g(p) is homogeneous of degree one in prices (b) g(p) is homogeneous of degree zero in prices (c) g(p) is homogeneous of degree minus one in prices (d) g(p)y is homogeneous of degree one in prices and income

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