Question: please answer all of them. The solution in the system is not correct so please solve the questions. please solve escepacially 7-13 thank you Consider

please answer all of them. The solution in the system is not correct so please solve the questions.

please solve escepacially 7-13

thank you

please answer all of them. The solution in the system is not

Consider the utility function of U(X,Y)=X2Y4 1. Derive the Marshallian demand curve for X(Xm) 2. Derive the Hicksan demand curve for X(Xc) 3. What is the own-price elasticity for Xm ? Please solve the questions 4. What is the own-price elasticity for Xc ? especially 7-13 5. What is the income elasticity of X ? 6. What is the price elasticity of X with respect to y(Py) ? 7. If the income level is 120 , then what is the Px that maximizes total spending 8. Show that Slutsky equation holds. 9. Show that Euller Equation holds. 10. Show that Engle Aggregation holds. What does it mean? 11. Show that Cournot Aggregation holds. What does it mean? (sx,ex,px+syey,px= ?) 12. Are x and y substitutes or complements? Why? [Hint: do calculate how much Marshalian quantity demanded of x changes as the price of y increases by 1%] 13. Are x and y net substitutes or complements? Why? [Hint: do calculate how much Hicksian (Compansated) quantity demanded of x changes as the price of y increases by 1% ] Consider the utility function of U(X,Y)=X2Y4 1. Derive the Marshallian demand curve for X(Xm) 2. Derive the Hicksan demand curve for X(Xc) 3. What is the own-price elasticity for Xm ? Please solve the questions 4. What is the own-price elasticity for Xc ? especially 7-13 5. What is the income elasticity of X ? 6. What is the price elasticity of X with respect to y(Py) ? 7. If the income level is 120 , then what is the Px that maximizes total spending 8. Show that Slutsky equation holds. 9. Show that Euller Equation holds. 10. Show that Engle Aggregation holds. What does it mean? 11. Show that Cournot Aggregation holds. What does it mean? (sx,ex,px+syey,px= ?) 12. Are x and y substitutes or complements? Why? [Hint: do calculate how much Marshalian quantity demanded of x changes as the price of y increases by 1%] 13. Are x and y net substitutes or complements? Why? [Hint: do calculate how much Hicksian (Compansated) quantity demanded of x changes as the price of y increases by 1% ]

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