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For the following utility function, u(x, y) =, (a) Verify that Shephard's Lemma: [(,,)/= c (,,)] (b) Find the income effect for good x. (c)

For the following utility function, u(x, y) =,

(a) Verify that Shephard's Lemma: [(,,)/=c(,,)]

(b) Find the income effect for good x.

(c) Show that the indirect utility function is homogeneous of degree zero.

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