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1. Rachel spends her income, Y, on Rock Shows (R) and Sunglasses (S) with prices PR and Ps. Rachel's preferences are given by the Cobb-Douglas

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1. Rachel spends her income, Y, on Rock Shows (R) and Sunglasses (S) with prices PR and Ps. Rachel's preferences are given by the Cobb-Douglas utility function U(R, S) = R.850.2. For a given utility level, Uo, Rachel's compensated demand for Rock Shows is. 4PR 0.2 4PS 2 4PS 0.2 OR =0.8 Uo OR = 0.8 Uo OR = 0.8 Uo Ps PR PR Show your work

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