If Bernice (Whose Utility Function Is Min{x, Y}, Where X

If Bernice (whose utility function is min{x, y}, where x is her consumption of earrings and y is money left for other stuff) had an income of $10 and was paying a price of $3 for earrings when the price of earrings went up to $4, then the equivalent variation of the price change was

A) $2.
B) $2.50.
C) $5.
D) $1.
E) $2.25.

Correct Answer:

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