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Jenny's income is 232. Her utility function is given by U = x+8.2y. Assuming the price of good X is 1 and the price of good Y increases from 2.7 to 17.3, find the change in the amount of good X Jenny buys and enter it below. (Note well: "change = new value - old value = after value - before value" ....) and enter this value below. (Hint: Use a graph.)

Jenny's income is 232. Her utility function is given by U = x+8.2y. Assuming the price of good X is 1 and the price of good Y increases from 2.7 to 17.3, find the change in the amount of good X Jenny buys and enter it below. (Note well: "change = new value - old value = after value - before value" ....) and enter this value below. (Hint: Use a graph.)

Principles of Microeconomics (MindTap Course List)
Principles of Microeconomics (MindTap Course List)
8th Edition
ISBN:9781305971493
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter21: The Theory Of Consumer Choice
Section: Chapter Questions
Problem 5CQQ
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Find the change in the amount of good X Jenny buys.

Jenny's income is 232. Her utility function is given by U = x+8.2y. Assuming the price of good X is 1 and the price of good Y increases from 2.7 to 17.3, find the change in the amount of good X Jenny buys and enter it below. (Note well: "change = new value - old value = after value - before value" ....) and enter this value below. (Hint: Use a graph.)
Transcribed Image Text:Jenny's income is 232. Her utility function is given by U = x+8.2y. Assuming the price of good X is 1 and the price of good Y increases from 2.7 to 17.3, find the change in the amount of good X Jenny buys and enter it below. (Note well: "change = new value - old value = after value - before value" ....) and enter this value below. (Hint: Use a graph.)
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