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Exercise 3 Now let's verify the derivation of the above solution. Start by writing a function for the expenditure on y, given a chosen amount

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Exercise 3 Now let's verify the derivation of the above solution. Start by writing a function for the expenditure on y, given a chosen amount #". The consumer will want to spend the entire budget, so that x*px + yPy = w or Py Call this function y-solve(x.star, p.x, P-y, w). Exercise 4 Now write a function that calculates the consumer's optimal bundle of goods that maximizes utility u(x,y) = "yl-a and is within budget. Do this by looping over candidate values of 2. Set y within budget using the function y solve (x.star, px, py, w) within the loop on x, for from zero to w/P, in increments of size step. Evaluate u(x,y) for each candidate value of x* and find the highest value max util. Write a function that returns a list with x* and y* called one loop bundle (p.x, py, w, alpha, step). Exercise 3 Now let's verify the derivation of the above solution. Start by writing a function for the expenditure on y, given a chosen amount #". The consumer will want to spend the entire budget, so that x*px + yPy = w or Py Call this function y-solve(x.star, p.x, P-y, w). Exercise 4 Now write a function that calculates the consumer's optimal bundle of goods that maximizes utility u(x,y) = "yl-a and is within budget. Do this by looping over candidate values of 2. Set y within budget using the function y solve (x.star, px, py, w) within the loop on x, for from zero to w/P, in increments of size step. Evaluate u(x,y) for each candidate value of x* and find the highest value max util. Write a function that returns a list with x* and y* called one loop bundle (p.x, py, w, alpha, step)

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