Question: Kwabena's utility function is Upper U left parenthesis q 1 comma q 2 right parenthesis equals min left parenthesis q 1 comma q 2 right
Kwabena's utility function is
Upper U left parenthesis q comma q right parenthesis equals min left parenthesis q comma q right parenthesisUqqminqq
The price of each good is $ and his monthly income is
$ comma
His firm wants him to relocate to another city where the price of
q q
is
$
but the price of
q q
and his income remain constant. Obviously, he would be worse off due to the move.
Part
What would be his equivalent variation?
Kwabenas equivalent variation would be
$enter your response here.
Enter your response as an integer.
Part
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