Question: Question 3: (30 points +10 bonus points) Duality and Slutsky Equation Consumer's expenditure function is the following: e (P1, P2, U) = U(p15 + p2.5

Question 3: (30 points +10 bonus points) Duality and Slutsky Equation Consumer's expenditure function is the following: e (P1, P2, U) = U(p15 + p2.5 where p is price of goods while U is target utility. Following the duality between the Utility Maximization Problem and the Expenditure Minimization Problem, answer the following question! a. Find the Hicksian Demand Function (6) b. Find the Indirect Utility Function! (6) c. Show that Indirect Utility Function is strictly increasing in income ()! (5 points) d. Find the Walrasian/Marshallian Demand Function! (7) e. Using Slutsky Equation, find the substitution and income effect of own price change in X1! (6 points) f. Bonus points: Find the Original Utility Function

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