Question: Suppose a consumer has the following utility function u ( x 1 , x 2 ) = 2 x 1 x 2 2 ( x

Suppose a consumer has the following utility function
u(x1,x2)=2x1x22(x1,x2)R+2.
Let the price vector p>>0 and the consumer's income y>0.
(i) Clearly, u is continuous so that it represents a preference relation . Is locally insatiable? If yes, prove it. If no, explain the reason.
(ii) Is u a concave function for all x1>0,x2>0? If yes, prove it. If no, explain the reason.
(iii) Find the Marshallian demand function d(p,y) and indirect utility function v(p,y).
(iv) Verify that d(p,y) and v(p,y) are homogeneous of degree 0 in (p,y).
(v) Verify that the two goods are superior.
Suppose a consumer has the following utility

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