1. (5 points) Assume that shoes and socks are complements and both are normal goods. (a) Please explain what will happen to the consumption of both shoes and socks if just the price of shoes decreases. (b) Please explain what will happen to the consumption of both shoes and socks if consumer income increases. For both (a) and (b), a graph may be included but is not necessary. 2. (5 points) Suppose a consumer derives satisfaction from consuming hamburgers and hot dogs. How will the budget line change when the consumer is offered a "buy two, get one free" deal for hot dogs (limit one free hot dog). Please label the graph. Hamburgers Hot dogs 3. (5 points) (a) Please explain how "Buy one get one free" is different from a half price (50% off) sale. (b) Please explain why a store would prefer a buy one get one free sale instead of a half price sale (50% off sale)