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3 Clara consumes two goods x and y. Suppose her utility function is given as U(x,y)=min{3x,4y}...

3 Clara consumes two goods x and y. Suppose her utility function is given as

U(x,y)=min{3x,4y}

The prices of the two goods are Px for good x and Py for good y. If her monthly income is $M,

  1. Derive her uncompensated demand function for good x
  2. Derive her uncompensated demand function for good y
  3. Derive the cross-price effects and show that the two goods are complementary goods.
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