U = (40x^.2)(y^.8)

1. (3 points) Duality Consider a consumer that has Cobb-Douglas utility : U = 40 XY- a) How much will this consumer purchase if I=800, Px = 5, and Py = 20? b1) Write the indirect utility function for this consumer as a function of I, P., and Py b2) Use the indirect utility function to calculate the utility of this consumer if I=800, Px - 5, and Py = 20? cl) Write the expenditure function for this consumer as a function of U, Px, and Py c2) Use the expenditure function to calculate how much this consumer will spend if U - 1280 , P. = 5, and Py - 20