Suppose a visitor who has a demand for trips to Park (2:) and Park (y), has the following preference ordering for trips: U (X, Y) = KAI] Y_60 The current price for both parks is $3 per trip, and our visitor has $300 per year to spend on these trips. 1. Use the Wmultiplier method to derive the ordinary demand equation for trips for each park, i.e., trips by the park as a function of income and the price per trip by the park. 2. From a, compute the actual number of trips to each park at current prices. 3. The Park Y needs to raise revenue to pay for salaries and improvements. Three future policies are being considered for raising revenue: (1) Raise the X fee to $6, holding constant the Y fee at $5: (2} Raise the Y fee to $6, holding constant the X at $5; {3] Raising both fees to $5.50. 4. Derive the expenditure function to explain which of those three policies produces the smallest welfare loss to our typical visitor 6. Can you think of any way that you might estimate those two utility Jnction parameters if you didnlt know them in advance