Question: Question2 Imagine a consumer is interested in purchasing new professional cloths for their first job out of college and they want to figure out

Question2 Imagine a consumer is interested in purchasing new professional cloths for

Question2 Imagine a consumer is interested in purchasing new professional cloths for their first job out of college and they want to figure out how many pants (x) and shirts (y) to buy, and they know their preferences are represented by the following utility function: U(x,y) = x0%y06 a) Calculate Marshallian Demand for pants b) Calculate Marshallian Demand for shirts c) Calculate Hicksian Demand for pants d) Calculate Hicksian Demand for shirts

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