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I got this question in my homework how would I go about in completing this
A consumer has the following utility function for goods X and Y: U(X, Y) = 5XY3 + 10 The consumer faces prices of goods X and Y given by px and py and has an income given by I.
a. Solve for the Demand Equations, X*(px,py,I) and Y*(px,py,I)
b. Calculate the income, own-price and cross-price elasticities of demand for X and Y.
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