Consider the following utility function
u(x,y)=min(2x,3y)
let Px, Py and I denote the price of x, and the price of y and the income level, respectively
a) find the hicksian deman function for x and y
b) find the expenditure function
c) without solving the utility maximization problem, recover the indirect utility function and the Marshallian demand functions
d) now suppose that Px=4, Py=3, and I=50. Compute the value of the marshallian demands for x and y and the corresponding optimal level of utility, u*
e) use the utility level computed in part (d) the verify the hicksian demands are equal to the marshallian demands for x and y