Question: Marvin has a Cobb - Douglas utility function, U = 9 9 . 5 9 9 . 5 , his income is Y = 1

Marvin has a Cobb-Douglas utility function, U =99.599.5, his income is Y =100, and, initially he faces prices of p11 and P2=2. If p increases to 2, what are his CV, ACS, and EV?(Hint: See Solved Problems 5.10 and 5.20.)M =

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