Question: Suppose we know the function CES utility, U = 4x035 + 437935 As notation, _ use 19,; for the price of x, 193, for the

Suppose we know the function CES utility, U = 4x035 + 437935 As notation, _ use 19,; for the price of x, 193, for the price of y, and m for revenue. (3.). Find the rst-order conditions for utility maximization. ('3) Find the general function for demand for X and y X\" I w = 1 =m m Assume the price ofx is $16, the price of y is $16, and income is $480. ((2). Find the values of 35*, y'\" and U *. (d). Calculate the price elasticity of demand with respect to at the point (x*,y*). (6). Are Kand g gross substitutes or gross complements? Are Kand ynet substitutes or net complements

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