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 $20 and was paying a price of $1 for earrings when the price of earrings went up to $6, then the equivalent variation of the price change was

A) $50.
B) $14.29.
C) $7.14.
D) $100.
E) $32.14.

Correct Answer:

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