Problems (Show all your work step by step) 1. Suppose that tastes are represented by CES utility function: U(x1,x2)=(x1+(1)x2)1/ Find the compensated and uncompensated demand functions for x1 and x2. (5 points) 2. Suppose that tastes for leisure (l) and consumption (c) are represented by CES utility function: U(l,c)=(l+(1)c)1/ Find the labor supply assuming a leisure endowment of L. (5 points).