Suppose that consumers preference is strictly concave, and utility function u(x) is well-defined and homogeneous of degree 1. 1. Show that the Walrasian demand function x(p, w) and the indirect utility function v(p, w) are homogeneous of degree 1 in w, therefore can be rewritten in the form of x(p, w) = x(p)w and v(p, w) = v(p)w. 2. Show that the Hicksian demand function h(p, u) and the expenditure function e(p, u) are homogeneous of degree 1 in u, therefore can be rewritten in the form of h(p, u) = h(p)u and e(p, u) = e(p)u. 3. Show that the elasticity of demand for any good l is equal to 1, that is, dxl(p,w) dw w xl(p,w) = 1, l