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  3. 1 consider the following utility function over goods 1 and...

Question: 1 consider the following utility function over goods 1 and...

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1. Consider the following utility function over goods 1 and 2, (a) [15 points] Derive the Marshallian demand functions and the indirect utility (b) [15 points] Using the indirect utility function that you obtained in part (a), () [10 points] Using the functions you have derived in the above, show that function derive the expenditure function from it and then derive the Hicksian demand function for good 1. iihi İ. the indirect utility function is homogeneous of degree zero in prices and ncome; ii. the Hicksian demand function for goods 1 is homogeneous of degree zero in prices.

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