題組內容

I. Suppose a consumer has a utility function of the form $U(x, y) = \sqrt[3]{27x^2} + 2y$, where $y$ is a composite good. Let $I = 20$ and $P_x = \frac{1}{3}$ be the initial set of income and price of $x$, respectively. Answer the following questions:

(b)(5%) What is the equivalent variation when \( P_{x} \) increases from \( \frac{1}{3} \) to \( \frac{1}{2} \)?