Income and substitution effects Given the two-good C-D utility function u(x, y) = x0.30.7 subject to the budget constraint Pxx + Pyy SM : (a) Define and derive the consumer's indirect utility function V(.). (b) Use the results in parts (a) and (b) to derive the consumer's compensated (Hicksian) demand functions for the two goods. (c) Write down the consumer's expenditure minimization problem (EMP) and derive the associated expenditure function. (d) Define and derive the income and substitution effects using the results from parts (a) and ( b). (e) Define and derive the Slutzky Equation for good x using parts (a) and (d) and verify that the equation "holds" (i.e., confirm that the LHS of the equation equals the RHS)