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4. a. Derive the slustky equation between x; and x7 with respect to changes in p1- b. Explain the IE and SE based on the

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4. a. Derive the slustky equation between x; and x7 with respect to changes in p1- b. Explain the IE and SE based on the Slutsky equation. c. Explain why Ox;/Op, can be upward or downward sloping, based on the slutsky equation. What roles do normal goods, Giffen goods and inferior goods play in determining the slope of the marshallian demands with respect to their own prices? d. Derive the slustky equation between x; and of with respect to changes in p2- e. Is the SE positive or negative? Show your proof. f. Explain why Ox;/Op2 can be upward or downward sloping, based on the slutsky equation. What roles do normal goods, Giffen goods and inferior goods play in determining the slope of the marshallian demands with respect to other goods' prices

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