Economic

Kofi consumes two goods (x) and (y). the following utility function represents his preferences: u(x,y) =0.4InX + 0.6InY Suppose the prices of the two goods (x and y) are px and py and his budget is M. You are required to do the following : (a) Specify Kofi's budget set (b) Derive the Marshallian demand function for each of the two commodities (c) Derive the indirect utility function and verify the Roy's identity. (d) How many units of each of the two commodities will be consumed by Kofi if his income is GHS100.00 and Px =1 , Py=2?