Naulin Mombo 03/15/24 9:57 AM ? Question 5, Concept Question 2.2 HW Score: 0%, 0 of 7 points Part 1 of 2 Points: 0 of 1 Save Ricardo's utility depends on his consumption of good q, and good q2, where the price of good q, is initially $10 and the price of good q2 is $20. At the original prices, his compensated demand for good q, is 0.4 P2 91 = 54.562 P y The price of good q, increases from $10 to $45. At the new price, Ricardo's compensated demand for good q, is 0.4 91 = 22.128 What is Ricardo's compensating variation? Ricardo's compensating variation (CV) is CV =. (Enter a numeric response using a real number rounded to two decimal places.)Question 6, Text Exercise HW Score: 0%, 0 of 7 points 3.3 O Points: 0 of 1 Save Since 1979, low-income recipients have been given food stamps without charge. However, before 1979, 200- people bought food stamps at a subsidized rate. 180- For example, to get $1 worth of food stamps, a household paid about 104 (the exact amount varied by 160 household characteristics and other factors). What is the budget constraint facing an individual if that 140 individual may buy up to $100 per month in food 120- stamps at 104 per each $1 coupon? Compare this constraint to the original budget constraint with no Expenditures on other goods in dollars per month 100 assistance and the budget constraint if the individual receives $100 of food stamps for free. 80- 60- Assume the individual has income of $110 per month. 40- 1.) Using the multipoint curved line drawing tool, graph the budget constraint facing this food stamp recipient 20- with subsidized food stamps. Label this line 'L' 0 20 40 60 80 100 120 140 160 180 200 2.) Using the line drawing tool, graph the budget Market value of food purchased in dollars per m constraint with no food stamp assistance. Label this line "Lz.' After plotting the final point of your multipoint curve, press the Esc key on your 3.) Using the multipoint curved line drawing tool, graph keyboard to end the line. the budget constraint with $100 in free food stamps. Label this line 'L3." Carefully follow the instructions above, and only drawQuestion 7, Text Exercise Part 1 of 2 Maulin Mombo 03/15/2410:00 AM (@) [ L =TT = e e O Points: 0 of 1 Education vouchers are increasingly used in various parts of the United States. Suppose that the government offers poor people a 55,000 education voucher, which can be used only to pay for education. Doraen would be better off with 35,000 in cash than with the education voucher. In a graph, determine the cash value, V, Doreen places on the education voucher (that is, the amount of cash that would leave har as well off as with the education voucher). Show how much education and "all other goods\" she would consume with the education voucher or with a cash payment of V. Suppose Doreen's initial budget line is LaI . With the education voucher, her budget line becomes Lz. which has a kink. 1.} Use the point drawing fool to identify how much education and all other goods Doreen consumes prior to the education voucher. Label this point 'e;". 2.} Use the point drawing fool to identify how much education and all other goods Doreen consumes with the education voucher. Label this point 'e5\". Carefully follow the instructions above and only draw the required ohjects. All other goods ., Units of education