Question: 2. Marvin has a Cobb-Douglas utility function, q q, , his income is Y = 100, and, initially he faces prices of p1 = 1

2. Marvin has a Cobb-Douglas utility function, q q, , his income is Y = 100, and, initially he faces prices of p1 = 1 and p2 = 2. If pi increases to 2, Marvin's (a) Compensating variation (CV) is O -34.65 0 -29.27 O -41.393 O -39.47 Show your work (b) Change in consumer surplus is (ACS) is -34.65 0 -29.27 O -41.393 0 -39.47 Show your work (c) Equivalent variation (EV) is -34.65 0 -29.27 0 -41.393 -39.47 Show your work

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