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(Solved): Consider the following information: income = 32, price of peanut butter = 1, price of jelly = 4, uti ...



Consider the following information: income = 32, price of peanut butter = 1, price of jelly = 4, utility function is of the standard form with a (peanut butter) = 0.6, b (jelly) = 0.4. If the price of jelly rises to 6, all else constant, how much income do you feel like you lost? Enter as a positive number. Round to the nearest cent.



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