Indirect Utility Functions ndirect Utility functions represent the level of utility as a function of prices and wages and we write v(p, w) It is useful many times, to have utility solely as a function of "exogenous" parameters Define the indirect utility function as v(p, w)=u(x(p, w)) where x(p, w) is the Marshallian demand function which solves the consumers problem to maximize u(x)subject to ≥p·xIndirect Utility Functions Indirect Utility functions represent the level of utility as a function of prices and wages, and we write vp,w. It is useful many times, to have utility solely as a function of "exogenous" parameters. Define the indirect utility function as vp,w  uxp,w where xp,w is the Marshallian demand function, which solves the consumers problem to maximize ux subject to w  p  x