Given that a are prices of X and Y respectively and the utility function is presented as (, ) =
0.4
0.6
,
a) Derive Marshallian demand functions. (10 marks)
b) Show whether the ordinary demand function for product Y is homogeneous of degree zero.
(4 marks)
c) Determine the marginal rate of substation of Y for X. (6 marks)
d) Calculate the maximum utility from products X and Y if the consumer has an income of
$12, = $2 a = $3

On january 1, 2017, pharoah company issued 10-year, $2,020,000 face value, 6% bonds, at par. each $1,000 bond is convertible into 16 shares of pharoah common stock. pharoah’s net income in 2017 was $317,000, and its tax rate was 40%. the company had 97,000 shares of common stock outstanding throughout 2017. none of the bonds were converted in 2017. (a) compute diluted earnings per share for 2017. (round answer to 2 decimal places, e. g. $2.55.) diluted earnings per share