Consider the preference relation \succeq over R 2 + such that, for any x, y R 2 + , x \succeq y if and only if e x1 + 1 e y1 + 1. (a) Illustrate the...

Consider the preference relation  over R2+ such that, for any x, y ∈ R2+, x  y if and only if ex1 + 1 ≥ ey1 + 1.

(a) Illustrate the indifference curves of this preference relation.

(b) Is this preference relation monotone?

(c) Is this preference relation convex?

(d) Provide a utility function u(x1, x2) that represents this preference relation.

(e) Given prices p = (p1, p2) > 0 and income m > 0, derive the consumer's demand functions.