suppose the cobb -douglas utility function is given by U(x,y)=x alfa y 1-alfa ,where alfa is greater than equal to zero but less than equal to 1

suppose the cobb -douglas utility function is given by U(x,y)=xalfay1-alfa,where alfa is greater than equal to zero but less than equal to 1

calculate the indirect utility function for this cobb douglas case

calculate the expenditure function for this case

show explicitly how the compensation required to offset the effect of the rise in price of x is related to the size of component alfa