1) Suppose that a person consumes two goods, x and y, in fixed proportions. He or she always consumes 1 unit of x together with 3 units of y no matter what the relative prices are. a) What is the...

1) Suppose that a person consumes two goods, x and y, in fixed proportions. He or she always consumes 1 unit of x together with 3 units of y no matter what the relative prices are.
a) What is the mathematical form for this person's utility function?
b) Calculate the Marshallian demand functions for both goods for this person.
c) Calculate the indirect utility function and the expenditure function for this person.
d) In class we discussed why expenditure functions are concave in prices. Is the expenditure function you calculated in part (c) concave in ???

Extracted text: Suppose that a person consumes two goods, x and y, in fixed proportions. He or she always consumes 1 unit of x together with 3 units of y no matter what the relative prices are. a) What is the mathematical form for this person's utility function? b) Calculate the Marshallian demand functions for both goods for this c) Calculate the indirect utility function and the expenditure function for this person. d) In class we discussed why expenditure functions are concave in prices. Is the expenditure function you calculated in part (c) concave in px? person.