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2 Short Answer (6pts) Answer each question with a few sentences, numbers, or a picture. Each question is worth (3) points. 1. If demand for

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2 Short Answer (6pts) Answer each question with a few sentences, numbers, or a picture. Each question is worth (3) points. 1. If demand for good :3 is given by x[p, B) = g- 2p, calculate the income and substitution effects of a price increase from p = 1 to p = 2 for someone with initial budget B = 12

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