Question: Jenny's income is 248. Her utility function is given by U = x+8.6y. Assuming the price of good X is 1 and the price of

Jenny's income is 248. Her utility function is given by U = x+8.6y.

Assuming the price of good X is 1 and the price of good Y increases from 4.8 to 16.5, find Jenny's `own-price substitution effect' and enter this value below. (Hint: Use a graph.)

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