b. Considering 2 goods it and 3;, demonstrate with graphical support, that the Compensating Variation (CV) can he expressed as follows: Hint: Compensating Variation (CV): is the income that we would have to give [or take away) to the consumer so that. at the new prices, he maintains the initial level of utility. That is: PC = E[pi,py.uo) 3(1):. pr. II\") = .l: IhCPny: 11,) ip, it