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4.(20 pts) Two of the simplest utility functions are: 1. Fixed proportions: U(x,y)=min[x,y]. 2. Perfect substitutes: U(X,y)=x+y. For each of these utility functions, compute the

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4.(20 pts) Two of the simplest utility functions are: 1. Fixed proportions: U(x,y)=min[x,y]. 2. Perfect substitutes: U(X,y)=x+y. For each of these utility functions, compute the following: . Demand functions for x and y - Indirect utility function - Expenditure function

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