Question: 5 . 5 Suppose the utility function for goods x and y is given by utility = U ( x , y ) = x

5.5
Suppose the utility function for goods x and y is given by
utility =U(x,y)=xy+y.
a. Calculate the uncompensated (Marshallian) demand functions for x and y, and describe how the demand curves for x and y are shifted by changes in I or the price of the other good.
b. Calculate the expenditure function for x and y.
c. Use the expenditure function calculated in part (b) to compute the compensated demand functions for goods x and y. Describe how the compensated demand curves for x and y are shifted by changes in income or by changes in the price of the other good.
5 . 5 Suppose the utility function for goods x

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