Question: 2. Consider the following utility function, 1 (21, 12) = rix2 7, where y E (0, 1) (a) [20 points] Derive the Hicksian demand functions

2. Consider the following utility function, 1 (21, 12) = rix2

2. Consider the following utility function, 1 (21, 12) = rix2 7, where y E (0, 1) (a) [20 points] Derive the Hicksian demand functions and the expenditure function. 1 (b) [10 points] Derive the indirect utility functions

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