Let U(x,y) = $\sqrt { x y }$ With MU_x = $\frac { \sqrt { y } } { 2 \sqrt { x } }$

question 8

Multiple Choice

Let U(x,y) = $\sqrt { x y }$ with MU_x = $\frac { \sqrt { y } } { 2 \sqrt { x } }$ and MU_y = $\frac { \sqrt { x } } { 2 \sqrt { y } }$ . Let I = $100, P_x = $25 and P_y = $10 be the initial set of prices and income. Now, let P_x fall to $10. What is the approximate compensating variation for this change in prices?

• A) 24
• B) 30
• C) 34
• D) 40

Identify factors influencing economic development and agricultural productivity in the U.S.

Assess the consequences of suburbanization on national resource dependency.

Evaluate the effects of government policies on family farms and agricultural trends.

Compare economic stability and growth periods in U.S. history.

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