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1. Lauren's utility function is U (x, y) = x + 12y1/3. a. Derive her demand functions for goods x and y. (10 points) b.

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1. Lauren's utility function is U (x, y) = x + 12y1/3. a. Derive her demand functions for goods x and y. (10 points) b. Will Lauren ever choose a corner solution? If so, what would have to be true of PX? (5 points) 0. Assume an interior solution and graph Avi's income consumption curve. (5 points) (:1. Assume an interior solution and graph Avi's price consumption curve, as the price of good x changes. (5 points)

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