Please provide explanation as well, not only the answers. How you did it.

QUESTION 2. Arthur has the following utility function U(x, y) = max (xy,0) a. (7 pts) Derive Arthur's hicksian (compensated) demands function for good x and y. b. (7 pts) Derive Arthur 's marshallian (uncompensated) demands for good x and y. C. (3 pts) Calculate Arthur's income elasticity of demand for good x. d. (3 pts) Calculate Arthur's cross-price elasticity of demand for good x.Textbook problems 2.5 Derive the income elasticity of demand for individuals with (a) Cobb- Douglas, (b) perfect substitutes, and (c) perfect complements utility functions. M 3.2 Ralph usually buys one pizza and two colas from the local pizzeria. The pizzeria announces a special: All pizzas after the first one are half price. Show the original and new budget constraints. What can you say about the bundle Ralph will choose when faced with the new constraint? 3.7 Lucy views Bayer aspirin and Tylenol as perfect substitutes. Initially the aspirin is cheaper. However, a price increase makes aspirin more expensive than Tylenol. In a diagram, show the substitution, income, and total effect of this price change.3.11 Bill's utility function is U = 0.5 In 431 + 0.5 In Q2. What is his compensated demand function for g; F (Hint: See Solved Problem 4.? 9.) M 3.11 Sylvan\": utility function is U051, In} = q1 + 292. Derive his compensated [Hicksian} demand and expenditure functions. M