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# Suppose Lee has income I and cares about two goods, I and y. The price of the two goods are p3 and pg. The individual has the following utility...

I don't know how to do these problems where I need to find the marshallian demand from a complex utility function where I can't identify what type of utility function it is.

1. Suppose Lee has income I and cares about two goods, I and y. The price of
the two goods are p3 and pg. The individual has the following utility function.
(Hint, if function f () is strictly increasing, U () and f(U (D represent the same preferences) :
U (I: y] = — (a) Find the Marshallian (uncompensated) demands for :r and y. (13] Now suppose instead that the utility function is U (I, y] = m (1 + 3;). Find the Hicksian (compensated) demands for a and y.

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