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Business, 23.12.2020 04:00, gabistel06
Marvin has a Cobb-Douglas utility function, , his income is Y$, and initially he faces prices of $ and $. If increases from $ to $, what are his compensating variation (CV), change in consumer surplus (CS), and equivalent variation (EV)? Marvin's compensating variation (CV) is $ 372.8. (Enter your response rounded to two decimal places and include a minus sign if necessary.) Marvin's change in consumer surplus (CS) is $ 311.92. (Enter your response rounded to two decimal places and include a minus sign if necessary.) Marvin's equivalent variation (EV) is $ nothing. (Enter your response rounded to two decimal places and include a minus sign if necessary.)
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Marvin has a Cobb-Douglas utility function, , his income is Y$, and initially he faces prices of $ a...
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