Problem 11 Go back to the data in problem 8. For Steve, Patrick and Jeff, calculate the following objects: . Marshall Demand . Hicks Demand . Indirect utility . Expenditure function. Hint: some useful derivatives dusteve = dn 3(9) 3, dusteve = (n) 3 Hint for further practice, change around the value of the exponents (but make sure they add up to 1!) and go again.Problem 8 Three friends Steve, Patrick and Jeff- are discussing their preferences for nuts or chips as their favourite mid-afternoon snack. They come to the conclusion that their utility functions are as follows, where n stands for \"quantity consumed of nuts\" and is \"quantity consumed of chips. . U.'fteve(n-, C) '."I%C% Upatrick(n, ) = %111('?1) + %ln(c) e Useps(n.c) =In(n) + $1In(c) + 1 Steve claims that all of them have different preferences for chips and nuts; Patrick says that he and Jeff have the same preferences, but that these preferences are different from Steve's; Jeff claims all three friend shave the same preferences for snacks. Who is right? Your answer is based on your justification. Hint: remember the rules of logarithm: In(z) = y*In(z) and In(z*y) = In(z)+In(y) and In(z x y) = In(x) + In(y)