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1. The following are substitution and income effect for a normal good, called X. Answer the table that follows: (4 Points) Nr. 1. 2. 3.
1. The following are substitution and income effect for a normal good, called X. Answer the table that follows: (4 Points) Nr. 1. 2. 3. 4. 40 30 L' 22 S Questions Movement from el to e2 is called What happened to the price of X (on horizontal axis) Movement from e* to e2 is called Movement from el to e* is called Explanation
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