Question: please answer Joe is a smoker. He has a utility function for cigarettes smoked indoors (q1) and a composite good (q2) given by U(q1,q2) =

please answer

please answer Joe is a smoker. He has a utility function for

Joe is a smoker. He has a utility function for cigarettes smoked indoors (q1) and a composite good (q2) given by U(q1,q2) = 5q10.2 + q2. Joe's income is $1,000 and faces prices p1 = 3 and p2 = 1. The government is planning to ban indoor smoking. How much money would we have to give Joe to compensate him for this ban? Your Answer: Anewor

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