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1. Maurice has the utility function u(st) = a Ins + 1, while Mindy has the utility function u(st) = bIns + t.Describe the aggregate

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1. Maurice has the utility function u(st) = a Ins + 1, while Mindy has the utility function u(st) = bIns + t.Describe the aggregate demand functions for s and r. Explain how the aggregate demand functions depend on the incomes of Maurice and Mindy, and calculate the price elasticities of demand for the aggregate demand functions.

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1. Maurice has the utility function u(s, t) = a . Ins + t, while Mindy has the utility function u(s, 1) = b . Ins+f. Describe the aggregate demand functions for s and f. Explain how the aggregate demand functions depend on the incomes of Maurice and Mindy, and calculate the price elasticities of demand for the aggregate demand functions

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