Question: Solve clearly For the following utility function: U(x, y) = 6 In(x) + 3y (Consider corner solutions) Calculate: e. Indirect Utility Function f. Expenditure Function

Solve clearly

For the following utility function: U(x, y) = 6 In(x) + 3y (Consider corner solutions) Calculate: e. Indirect Utility Function f. Expenditure Function g. Total, Income and Substitution Effects for a small price change (i.e. using the derivative) for good a (show Slutsky equation holds) h. Own price elasticity (with respect to good a)

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