[See Steps] Consider the problem of maximizing u= (x 1 x 2) ² subject to p 1 x 1 + p 2 x 2 = y. Derive the Marshallian demand functions and the indirect
Question: Consider the problem of maximizing u= (x 1 x 2 ) ² subject to p 1 x 1 + p 2 x 2 = y. Derive the Marshallian demand functions and the indirect utility function; and confirm that Roy’s identity holds.
Deliverable: Word Document 
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