Question: Solve it quick. Question 1 (30 points) Let U (x, y) = xy'. Find the following: a. Marshallian demand for x and y. b. the

Solve it quick.

Question 1 (30 points) Let U (x, y) = xy'. Find the following: a. Marshallian demand for x and y. b. the indirect utility function the compensated (Hicksian) demand functions for x and y using the expenditure minimization method. (Setting up the Lagrangian is fine but not required if you already know the equations representing the rst order conditions). d. the expenditure function e. Use your answers to a and d to derive the Hicksian demand functions for x and y. Compare these to your answers to c. f. Use your answers to b and c to derive the Marshallian demand functions. Compare these to your answers for a. g. Write the Slutsky equation for good it and show that both sides are equal. 5&quot

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