3. Identify each of the following statements is an income effect or substitution effect.

a. Dr. Jane Smith, a family physician in a local area, works only 3 days a week because she

wants spend more time with her family.

b. You purchased more chicken today in Walmart because it was on sale (the price was 50%

off).

c. As a result of a decrease in the price of hamburger, you were able to buy more hamburger

and more T-bone steak.