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solve three problems @ Not secure | mooct.elearning.shu 23 suppose U(x. y) = xy, where a + B - 1. Use the Slutsky equation In

solve three problems

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@ Not secure | mooct.elearning.shu 23 suppose U(x. y) = x"y, where a + B - 1. Use the Slutsky equation In clast city form to derive the compensated price elasticity. 08 1-0 OC - 24 We assumed that the utility function for hamburgers (y) and soft drinks (x] was given by utility - U(x,y) = x35,as. There is an unconscionable price increase for soft drinks (good ) from $1 to $4, the consumer wellare loss using the Marshallian demand function is A 556 25 Suppose that a person regards ham and cheese as pure complements-he or she will always use one slice of ham In combination with one slice of cheese to make a ham and cheese sandwich. Suppose also that ham-and cheese are the only goods that this person buys and that bread is frep. It a slice of ham cost twice the price of a slice of cheese, the own price clasticity of demand for ham is and that the cross-price elasticity of dernand for ham with respect to the price of cheese is. OJA -20-1/3

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