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A consumer has the utility function U(q1,q2) = q10.1 + q2 Assume p2 = 1 and Y = 100. What is the equivalent variation of a price increase for good 1 from 1 to 3?

A consumer has the utility function U(q1,q2) = q10.1 + q2 Assume p2 = 1 and Y = 100. What is the equivalent variation of a price increase for good 1 from 1 to 3?
asked 44.9k views
5 votes
A consumer has the utility function

U(q1,q2) = q10.1 +
q2
Assume p2 = 1 and Y = 100. What is the equivalent
variation of a price increase for good 1 from 1 to 3?

asked
User Revell
by
7.7k points

1 Answer

3 votes

Answer:

d

Step-by-step explanation:

d

answered
User Ahmed Raza
by
8.5k points
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