ECON 356 - A consumer has thequasi-linear utility function
Question # 00666576
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Updated on: 03/31/2018 05:13 AM Due on: 03/31/2018
A consumer has thequasi-linear utility function
U(q1,q2) = 64q1^(1/2) + q2
Assume p2 = 1 and Y = 100. Find the consumer's compensating and equivalent variations for an increase in p1 from 1 to 2.
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Solution: ECON 356 - A consumer has thequasi-linear utility function