Essay Question 1 (35 points; 5 points each) Carlotta enjoys watching movies, 3:, while drinking sodas, y. Her preferences over movies and sodas can be represented by the utility function U (3:, y) =1I1(a=) +1n(y) Carlotta's expenditure function is given by O E(Pr, Py, U) = 4pxPy exp (U) O E(Pr, Py, U) = In(Px + Py ) U O E(PI, Py, U) = P&Py U Pa +Py O E(Px, Py, U) = 2pa py exp (2) O E( Px, py , U) = (p2 + py ) exp (2) Question 14 Carlotta's Hicksian demands are given by which of the the following expressions? Oh. ( P. , P y , U) = (PL ) Z In ( 2; hy(Pz, Py, U) = (B) = In (2) O hx ( Px , Py , U) = ) exp ( 2 ); hy (Px, Py, U) = p ) exp (2) Ohx ( Px, Py , U) = 2 ( RX) exp ( ? ); hy ( Pz, Py , U ) = 2 (R. ) exp Ohx ( Px , Py , U) = P 2 exp (2 ); hy ( Px, Py, U) = P exp 2