1. (8 marks) A person in a market has a utility function u(x, y) = x2 + xy (3) (2 marks) Draw an indifference curve for u = 4- and one for u = 16. (b) (3 marks) Assuming these preferences are strongly convex and strongly monotonic (you don't need to show it), nd the cost minimizing bundles as functions of utility level and prices for interior solutions and give the restrictions on prices needed to obtain an interior solution. (c) (3 marks) Find the CV for a change from prices and income (1313:, py, I) = (1,1,10) to prices and income (2,320). If you cannot do it, explain how you would do it and where you get stuck for partial marks