Question: Final exam for advanced micro (PhD level, Spring 2021) A. Assume that the consumer's preferences over the consumption bundles (1, x2) are represented by the

Final exam for advanced micro (PhD level, Spring 2021)

A. Assume that the consumer's preferences over the consumption bundles (1, x2) are represented by the utility function Let prices be (P1, p2) and income be m. 1. Find the Marshallian demands. 2. Find the indirect utility function. 3. Find the Hicksian demands. 4. Find the expenditure function

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