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l. A consumer has the utility function 11(3) = 3:?'613'4. Let p = (4, 5) and w = 1000. (a) Solve for the Hicksian demand

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l. A consumer has the utility function 11(3) = 3:?'613'4. Let p = (4, 5) and w = 1000. (a) Solve for the Hicksian demand function. Suppose there is a tax imposed on good 1 of t = 1 and so the price is non.T p = [5, 5). (b) What is the EV from this tax? What is the D'WL using the EV as your metric? [c] What is the CV from this tax? What is the DWL using the CV as your metric

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