2. Ryan's preferences are represented by u(x,y) = 3x13 + 3y1/3 . a. Derive Ryan's demand function for good y. Show all your work. (10
2. Ryan's preferences are represented by u(x,y) = 3x13 + 3y1/3 . a. Derive Ryan's demand function for good y. Show all your work. (10 points) b. Does good y follow the law of demand? Mathematically justify using a derivative. (5 points) 0. Is good X normal, inferior or income neutral? Mathematically justify using a derivative. (5 points) d. Are X and Y complements, substitutes, or unrelated goods? Mathematically justify using a derivative. (5 points)
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