Question: There are two goods, apple and banana, whose quantities are denoted by X and Y and prices by Px and Py respectively. There is a

There are two goods, apple and banana, whose quantities are denoted byX and Yand prices byPx and Pyrespectively.

There is a consumer whose income is denoted by M and utility by U. His expenditure function is known to be: M=U(Px,Py, U)

a. Find the consumer's Hicksian (compensated)

b. Find the indirect Utility function

c. Derive his Marshallian (Uncompensated) demand function for X and Y

d. Derive the direct utility function of this consumer

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