Suppose a Consumer's utility function is given by U(X,Y) = X1/2Y1/2. The Consumer has $108 to spend (M = $108). The price of Good Y is PY = $1. The price of Good X is initially PX = $1, and then the price of Good X increases to PX = $9. a) Calculate the Compensating Variation (since PX increases, this will be a positive number.) Compensating Variation = ________________________ b) Calculate the Equivalent Variation ( since PX increases, this will be a positive number.) Equivalent Variation = ________________________ C Of the total change in the quantity demanded of Good X, how much is due to the substitution effect and how much is due to the income effect? SE = __________________ IE = __________________