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Microeconomic questions: Utility function: U(x,y) = x^0.7 + y^0.7 The questions are given below. Free to choose whatever the numercal example Given the utility funtion:

Microeconomic questions: Utility function: U(x,y) = x^0.7 + y^0.7

The questions are given below. Free to choose whatever the numercal example

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Given the utility funtion: U(x, y) = x07 + yo.7, find: WWWwwwwwwww a) Set up the Lagrangian equation WWWWWW b) first order conditions for a maximum c)demand function for x and y d)give a numerical example for the prices

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