Bonus Question (Optional w/ Extra Points) Consider a simple utility function of the form: U(x, y) = xªy¹-a. = a) Solve the expenditure minimization problem and use your solution to show that the expenditure function for this person is E(px, Py, u) K¹uppy, where K is some parameter in terms of a, and u is the threshold utility level in the expenditure mini- mization problem. b) Compute the Hicksian demand function for good x.

Definition Definition Structural system an enterprise uses to collect, store, report, retrieve, and process financial data. Accounting information systems are used by business analysts, auditors, accountants, and consultants for accurate and efficient access to financial data.