3) Draw an Engel curve if x is a normal good at low income levels and become inferior at high income levels. Label your axes. 4) a) Draw a budget constraint and a set of indifference curves that shows what happens when the price of good y falls. b) What happens to slope of the budget constraint when the price of y falls? Why? c) Draw a graph that shows the overall price change, substitution effect and income effect of the decrease in the price of good y, assuming that y is a normal good