Given U(x,y) = x^0.4y^0.6and I = p_xx + p_yy. Based on this information

1.Estimate the bundle that maximizes the level of utility (Marshallian demand function)

2.Derive the indirect utility function

3.Derive the demand function from the indirect function (Hint: Roy's identity)

4.Derive the expenditure function

5.Derive the compensated demand function for each good

6.Estimate the substitution and income effect of own price change for each good