Multi-Part question - Hank consumes only housing (H) and food (F), and he has the following utility function: U(H, F)= In(H) + F. 21. What are his Marshallian demands g and gr for housing and food and what is his indirect utility? Assume I > pr. 22. Without solving the expenditure minimization problem, what are Hank's expenditure function and Hicksian demands hд and hp?

ENGR.ECONOMIC ANALYSIS
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Multi-Part question - Hank consumes only housing (H) and food (F), and he has
the following utility function: U(H, F)= In(H) + F.
21. What are his Marshallian demands g and gr for housing and food and what is his
indirect utility? Assume I > pr.
22. Without solving the expenditure minimization problem, what are Hank's expenditure
function and Hicksian demands hд and hp?
Transcribed Image Text:Multi-Part question - Hank consumes only housing (H) and food (F), and he has the following utility function: U(H, F)= In(H) + F. 21. What are his Marshallian demands g and gr for housing and food and what is his indirect utility? Assume I > pr. 22. Without solving the expenditure minimization problem, what are Hank's expenditure function and Hicksian demands hд and hp?
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