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A consumer has the utility functionU(X,Y)=X12Y12 U(X,Y) = X1/2Y1/2and $178 to spend.The price of X = $4, and the price of Y = $1.Calculate the
A consumer has the utility functionU(X,Y)=X12Y12
U(X,Y) = X1/2Y1/2and $178 to spend.The price of X = $4, and the price of Y = $1.Calculate the compensating variation when the price of X changes to $6.Round your answer to two decimal places.
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