A. Ann consumes 2 goods, r and y. Her utility function is U(x, y) = rays. Let P, and py denote the prices of goods r and y, respectively, and let m denote Ann's income. (1) Find Ann's Marshallian demand functions for r and y. (2) Ann would like to know the least expensive bundle for each utility level. Find this optimal bundle as a function of Pz, py, and utility level (i.e., the Hicksian demand functions). (3) Assume that Pr = 4, py = 1, and m = 12. Using your answers to part (1) and part (2), find the Hicksian substitution and income effects if the price of r changes to 1. (4) Repeat (3) using only Marshallian demand functions (not Hicksian demand functions)