Question: I need help with this question Michael has a constant-elasticity-of-substitution (CES) utility function, u($1, 12) = (+ x, ). His ordinary demand function for good
I need help with this question

Michael has a constant-elasticity-of-substitution (CES) utility function, u($1, 12) = (+ x, ). His ordinary demand function for good 1 is given by: ri(p, m) = m (P1 )- (pi ) + (p2)= Michael's income is m = $10. The price of both goods is p1 = p2 = $1. An exogenous shock increases the price of good 1 to p, = $4, while pz remains constant. 1) Write down (the formula of) Slutsky's equation. 2) Compute m', the income that makes the optimal bundle at p = (1, 1) just afford- able at the new price rate p' = (4, 1). 3) Apply Slutsky's equation to derive (Slutsky's) substitution and income effect
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