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Imagine that preferences are represented by the function: U (x,y) = x0

Economics

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Imagine that preferences are represented by the function: U (x,y) = x0.6y0.4 a. What is the Marshallian Demand for x? b. What is the Marshallian Demand for y? c. What is the Hicksian/compensated Demand for x? d. What is the Hicksian/compensated Demand for y? e. Calculate the price elasticity of demand for good x. What does this mean economically? f. Calculate the price elasticity of demand for good y. What does this mean economically?