Question: For the utility function U = Qx^0.61Qy^(1-0.61) and the budget 147 = 14Qx + 14Qy find the CHANGE in optimal consumption of X if income
For the utility function U = Qx^0.61Qy^(1-0.61) and the budget 147 = 14Qx + 14Qy find the CHANGE in optimal consumption of X if income increases by a factor of 1.1. Please enter your response as a positive number with 1 decimal and 5/4 rounding (e.g. 1.15 = 1.2, 1.14 = 1.1). please dont just use chat gpt and actually give a numerical value for a
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