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16.Bugs consume carrots and lettuce, both of which are normal goods. Supposethe price ofcarrotsrises.a.Illustrate the substitution and income effects.b.Does the substitution effect lead to an
16.Bugs consume carrots and lettuce, both of which are normal goods. Supposethe price ofcarrotsrises.a.Illustrate the substitution and income effects.b.Does the substitution effect lead to an increase or a decrease in Bugs's let-tuce consumption? Justify your answer. (Note:The price ofcarrotschanged,but you are asked about the effect on the quantity oflettuce.)c.Does the income effect lead to an increase or a decrease in Bugs's lettuceconsumption? Justify your
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