Question: Please help me. I would appreciate help so much. God bless! During droughts, cities often impose water use restrictions on consumers. Suppose a representative consumer

Please help me. I would appreciate help so much. God bless!

Please help me. I would appreciate help so much. God bless! \"During

\"During droughts, cities often impose water use restrictions on consumers. Suppose a representative consumer has preferences for Water (W) and other goods (X) given by the utility function: U[W,X) = Wazxos Suppose the price of other goods is $1 and the price of water is initially $2. The consumer has a budget of $500 /week. a) How much water will the consumer purchase each week? [you can use the cobb-douglas shortcut) b) Suppose the government imposes a quota on water use of 10 units/ week. Compute the consumer's utility after the quota. c) By how much does the quota harm the representative consumer? Specically, compute the equivalent variation of the quota

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