marshallian and hicksian demand curves

3. (4 points) Marshallian and Hicksian Demand Curves Consider a consumer with the Utility Function: U = 2 x 25 y.75 Initially, the consumer has 1=200, P.= 4, and Py = 2. a) Write the equation and draw the Marshallian and Hicksian demand curves for Good X and Good Y for this consumer starting from this initial situation. b) If the price of Good X increases to 8, what is the compensating variation (CV) using the initial utility and P,? What is the equivalent variation(EV) using the final utility and Py? What is the loss in consumer surplus? In your view, what is the loss to this consumer when the price increases? c) How is your answer in part b) related to the two curves that you drew in part a)