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1. For the utility function U(x,y) = (x^0.4)(y^0.6), calculate EV, CV, and CS for an increase in px from $1 to $2. Assume py =
1. For the utility function U(x,y) = (x^0.4)(y^0.6), calculate EV, CV, and CS for an increase in px from $1 to $2. Assume py = 1 and m =100.
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Principles of Economics
Authors: Robert Frank, Ben Bernanke
5th edition
73511404, 978-0073511405
