Question: Cobb Douglas Utility function is given asfollows:U(X, Y) = x0.4y0.6a. Find EXpx, E{py, ExT, EyI, ETRy, ETPRb. Find Sy Syc. Show whether Homogeneity holds.d. Check

Cobb Douglas Utility function is given asfollows:U(X, Y) = x0.4y0.6a. Find EXpx, E{py, ExT, EyI, ETRy, ETPRb. Find Sy Syc. Show whether Homogeneity holds.d. Check whether Engel aggregation holds.e. Check whether Cournot aggregation holds.

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