Read aloud Draw Highlight 2. Now consider an Expenditure (or Cost) Minimization Problem. Solve for the cost-minimizing bundle (subject to the utility constraint). Use the information provided below. Solve via the Lagrangian Method. U - 1lly1/2 U-20 Px - $20 Py = $20 A) Set up this constrained minimization problem: B) Write out the Lagrangian: (either general or specific form is fine) L(x,y,x)= C) Solve for the First Order Conditions (FOC): D) Solve for the tangency condition: E) Solve for X and Y. F) Can she maintain her level of utility at the basket? What is the cost of her optimal basket? Show all your work. G) Draw it out. Be detailed with your graph. Label EVERYTHING. O 14 a hp