Question: 1 . Suppose a consumer has a utility function such that U = xy / ( x + y ) which is subject to a

1. Suppose a consumer has a utility function such that U= xy/(x+y) which is subject to a traditional budget constraint. Given this information, proceed to the questions below to solve the dual problem:
a. Derive the uncompensated demand for x and y
b. Derive the compensated demand for x and y
c. Derive the indirect utility function
d. Derive the expenditure function
e. Derive the compensating variation (CV), equivalent variation (EV) and consumer surplus (CS). Assume income is 100(in thousands of dollars) and that the price of good \( y \) increased from \(\$ 1\) to \(\$ 3\). The price of good \( x \) is \(\$ 2\) and does not change.
1 . Suppose a consumer has a utility function

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