A consumer's utility function is U(x,y) min 5x 3y The consumer's income is 218 EUR, the price of x is 18 EUR, the price of y is 11 EUR Assume that the price of x changes to 12 EUR If you apply the Slutsky decomposition, what is the substitution effect of this price change on product x If you apply the Slutsky decomposition, what is the income effect of this price change on product x If you apply the Slutsky decomposition, what is the substitution effect of this price change on product y If you apply the Slutsky decomposition, what is the income effect of this price change on product y If you apply the Hicksian decomposition, what is the substitution effect of this price change on product x If you apply the Hicksian decomposition, what is the income effect of this price change on product x If you apply the Hicksian decomposition, what is the substitution effect of this price change on product y If you apply the Hicksian decomposition, what is the income effect of this price change on product y

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Question: A consumer's utility function is U(x,y) = min{5x;3y}. The consumer's income is 218 EUR, the price of x is 18 EUR, the price of y

A consumer's utility function is U(x,y) = min{5x;3y}. The consumer's income is 218 EUR, the price of x is 18 EUR, the price of y is 11 EUR. Assume that the price of x changes to 12 EUR.

If you apply the Slutsky decomposition, what is the substitution effect of this price change on product x?
If you apply the Slutsky decomposition, what is the income effect of this price change on product x?
If you apply the Slutsky decomposition, what is the substitution effect of this price change on product y?
If you apply the Slutsky decomposition, what is the income effect of this price change on product y?
If you apply the Hicksian decomposition, what is the substitution effect of this price change on product x?
If you apply the Hicksian decomposition, what is the income effect of this price change on product x?
If you apply the Hicksian decomposition, what is the substitution effect of this price change on product y?
If you apply the Hicksian decomposition, what is the income effect of this price change on product y?

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