Question: A consumer has a utility function u(x, y, z) = min{z, y} +2. The prices of the three goods are given by (pr. Py, P.)

A consumer has a utility function u(x, y, z) = min{z, y} +2. The prices of the three goods are given by (pr. Py, P.) and the money the consumer has to spend is given by m.

(a) It turns out that this utility function can be written in the form U(V(z,y), z). What is the function V(x, y)? What is the function U(V. z)?

(b) What are the demand functions for the three goods?

(c) What is the indirect utility function?

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