5. The demand function corresponding to a Cobb-Douglas utility function is m X1 = B P1 where > 0 is a constant. Find the substitution and income effects of a price change. 6. Suppose that a consumer's preferences for two goods, x1 and x2, can be represented by the utility function u = In(X1) + X2 Denote the prices of these goods by p, and p2 respectively. (a) Derive expressions for the consumer's Marshallian demands. (b ) Show that for x, the compensated (substitution) effect of a change in its own price is the same as the uncompensated effect. Why is this? (c) Calculate the welfare effects of doubling the price of good 1, and draw and briefly explain an appropriate diagram to illustrate these effects