(c) Find the Marshallian demands for the two goods. 2 pts For extra credit: (i) Find the good-1 equivalent and compensating variations. How are they related to one 2 pts another and to CS,(q; p, m)? Why? (d) Find indirect utility function. 1 pt 4. Suppose that a rational consumer demands the bundle (6, 7) at prices (P1, P2) = (5, 10) 11 pts and budget m = 100. Assume that you have measured the own-price derivative of the compensated demand for good 1 as (e) Find the expenditure function. 1 pt Oh1 (P1, P2, v) -2 op1 and the budget derivative of the ordinary demand for good 1 as Ox1 (P1, P2, m) am (f) Find the Hicksian demands. 2 pts (a) State algebraically the homogeneity property of hi(P1, P2, v), i = 1, 2, in terms of a 0.5 p positive scalar t. (b) Differentiate your part-(a) expression with respect to t, set t = 1, and use the result 2.5 pts as the basis for proving Hick's Third Law-i.e., Sp = 0. g) Find the good-1 consumer surplus function CS, (q; p, m). 1.5 pts (h) Find the indirect money metric utility function u(q; p, m), where q is the base price 1 pt (c) Use Hicks's Third Law to find the substitution matrix S. 2 pts of good 1