Consider an individual whose preferences are dened over bundles of non- negative amounts of each of two commodities. Suppose that this individ ual's preferences can be represented by a utility function U : R3 > t of the form U (931,1?2) 2 ln (x1 + l) + 2\\/:2:2, where x1 denotes the individual's consumption of commodity one, and 1172 denotes the individual's consump- tion of commodity two. This individual is a price taker in both commodity markets. The price of commodity one is 101 > 0, and the price of commodity two is 132 > 0. This individual is endowed with an income of y > 0. 1. Does this individual have quasilinear preferences? Justify your an swer. 2. Are this individual's preferences locally non-satiated? Justify your answer. 3. What is this individual's budgetconstrained utility maximisation problem? 4. Suppose that the individual will optimally consume strictly positive amounts of both commodities. What is the individual's optimal con- sumption bundle in this case? Under what circumstances, if any, will this case occur? 5. Can it ever be optimal for this individual to choose to consume zero units of commodity one? If so, what would be his or her optimal consumption of commodity two? Under what circumstances, if any, will this case occur? 6. Can it ever be optimal for this individual to choose to consume zero units of commodity two? If so, what would be his or her optimal consumption of commodity one? Under What circumstances, if any, will this case occur? 7. What are the Marshaliian demand functions (or possibly correspon dences) for commodity one and commodity two for this individual?1 8. What is this individuai's indirect utility function