Marvin has a Cobb-Douglas utility function, 0.5 U= 9 92 his income is Y = $900,...

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Marvin has a Cobb-Douglas utility function, 0.5 U= 9₁ 92 his income is Y = $900, and initially he faces prices of p₁ = $1 and P2 = $2. If p, increases from $1 to $2, what are his compensating variation (CV), change in consumer surplus (ACS), and equivalent variation (EV)? Marvin's compensating variation (CV) is $ places and include a minus sign if necessary.) 0.5 Marvin's equivalent variation (EV) is $ and include a minus sign if necessary.) (Enter your response rounded to two decimal Marvin's change in consumer surplus (ACS) is S decimal places and include a minus sign if necessary.) (Enter your response rounded to two (Enter your response rounded to two decimal places Marvin has a Cobb-Douglas utility function, 0.5 U= 9₁ 92 his income is Y = $900, and initially he faces prices of p₁ = $1 and P2 = $2. If p, increases from $1 to $2, what are his compensating variation (CV), change in consumer surplus (ACS), and equivalent variation (EV)? Marvin's compensating variation (CV) is $ places and include a minus sign if necessary.) 0.5 Marvin's equivalent variation (EV) is $ and include a minus sign if necessary.) (Enter your response rounded to two decimal Marvin's change in consumer surplus (ACS) is S decimal places and include a minus sign if necessary.) (Enter your response rounded to two (Enter your response rounded to two decimal places

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Marvins compensating variation CV is 45000 Marvins change in consumer surplus ACS is 45000 Marvins e... View the full answer