Jenny's income is 220. Her utility function is given by U = x+9.1y. Assuming the price of good X is 1 and the price of good Y increases from 4.4 to 13.7, find Jenny's `own-price substitution effect' and enter this value below. (Hint: Use a graph.)

Micro Economics For Today
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Author:Tucker, Irvin B.
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Chapter6: Consumer Choice Theory
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Jenny's income is 220. Her utility function is given by U = x+9.1y.

Assuming the price of good X is 1 and the price of good Y increases from 4.4 to 13.7, find Jenny's `own-price substitution effect' and enter this value below. (Hint: Use a graph.)

Jenny's income is 220. Her utility function is given by U = x+9.1y.
Assuming the price of good X is 1 and the price of good Y increases from 4.4 to 13.7, find Jenny's own-price
substitution effect' and enter this value below. (Hint: Use a graph.)
Transcribed Image Text:Jenny's income is 220. Her utility function is given by U = x+9.1y. Assuming the price of good X is 1 and the price of good Y increases from 4.4 to 13.7, find Jenny's own-price substitution effect' and enter this value below. (Hint: Use a graph.)
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