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A utility-maximizing consumer believes two goods are Perfect Substitutes u(x, y) = 3x + 4y. She...

A utility-maximizing consumer believes two goods are Perfect Substitutes u(x, y) = 3x + 4y. She pays pY = 2 and pX = 1. Her income is m = 24. Next month the price of good x will rise to pX = 3. Round your final answers to 3 decimal places.

What is the EV, CV and Approximate ΔCS?

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Rahul Sunny answered 1 year ago
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