Jane has the following utility function: u(x, y) = 5x + 3y.

(a)Find Jane's marshallian demands.

(b)Find Jane's hicksian demands.

(c) Initially, her income is I = $8, and prices are given as px = $2, py = $1. Does she have enough money to attain a utility level of 20? Justify your answer.

(d) Consider a small increase in py. Find the total, income and substitution effect for x due to the change in py.

(e)Assume the price of y increases to 2. Find the total, income and substitution effects for x. Consider this price change a "large" price change.