2. (a) On the diagram below indicate the income and substitution effects of a price change from
$1 to $2 per unit for a person that has an income of $80 . ncome ffect c abstith ffect (D) is a
gover susmy (4 points).
Income & substitution effects of price change diagram
1. 2. (a) On the diagram below indicate the income and substitution effects of a price change from
$1 to $2 per unit for a person that has an income of $80 . ncome ffect c abstith ffect (D) is a
gover susmy (4 points)