Answer the following. please explain and show steps (show work)Use expenditure minimization to find the optimum consumption bundle of goods if:U (any) = x? and we want to achieve utility level = i7 and I; = 1 and P3, = p .Derive the Hicksian demand curve for good v.Use expenditure minimization to find the optimum consumption bundle of goods if:006.?) = Ln(x) + yand we want to achieve utility level = U and Px = 1 and P3, = p .What would be expenditure at the optimal bundle? Derive the Hicksian demand curve for good Y.
