Question: Question 3 (8 points) [8 marks] For the following question, You get 2 mark from choosing the correct answer. You get up to 6

Question 3 (8 points) [8 marks] For the following question, You get

Question 3 (8 points) [8 marks] For the following question, You get 2 mark from choosing the correct answer. You get up to 6 marks for the detailed solution. The utility function that represents the preferences of a consumer is given by U (x, y) = x/xy. She consumes 4 units of good x and 36 units of good y. If her consumption of good x is lowered to 2, how many additional units of y must she have in order to be exactly as well off as before? (a) 432 (b) 318 (c) 252 (d) 158 (e) None of the above.

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