5.8 Suppose the utility function for goods X and Y is given by utility
U(X, Y)
XY Y.

a. Calculate the uncompensated (Marshallian) demand functions for X and Y and describe how the demand curves for X and Y are shifted by changes in I or in the price of the other good.

b. Calculate the expenditure function for X and Y.

c. Use the expenditure function calculated in part

(b) to compute the compensated demand functions for goods X and Y. Describe how the compensated demand curves for X and Y are shifted by changes in income or by changes in the prices of the other good.