Imagine an economy with only two goods: pizza and pasta. If pizza is represented by x, and pasta is represented by y, and the utility function is: U(x,y)=(0.5x2+0.5y2)21 Suppose the price of pizza is Px per slice, the price of pasta is Py, and your income is I. a. Address the Utility Maximization Problem Properly.(UMP) b. What is your budget constraint for pizza and pasta? (BC) c. What is the MRS of x and y ? d. What is the Marshallian Demand for x ? e. What is the Marshallian Demand for y ? f. What is the Income elasticity of demand for good x ? What does this mean economically? g. What is the Income elasticity of demand for good y? What does this mean economically? Imagine an economy with only two goods: pizza and pasta. If pizza is represented by x, and pasta is represented by y, and the utility function is: U(x,y)=(0.5x2+0.5y2)21 Suppose the price of pizza is Px per slice, the price of pasta is Py, and your income is I. a. Address the Utility Maximization Problem Properly.(UMP) b. What is your budget constraint for pizza and pasta? (BC) c. What is the MRS of x and y ? d. What is the Marshallian Demand for x ? e. What is the Marshallian Demand for y ? f. What is the Income elasticity of demand for good x ? What does this mean economically? g. What is the Income elasticity of demand for good y? What does this mean economically