Chris Demands gold chains and %m pairs of shoes when his income is m, P1 132 the price of gold chains is m and the price of shoes is pm. (You can assume throughout that the goods can be purchased and consumed in fractions so you do not have to deal with discreteness.) A. How many gold chains and pairs of shoes does Chris demand when m = 1200 and p1 = 100 and p2 = 100? B. Draw Kayne's budget line and mark his demand from part A. C. The price of gold chains increases to p1 = 300. On the graph from part B, draw the new budget line. D. How many gold chains and pairs of shoes does Chris demand after the price change in part C? Label this on your graph from part B. E. Draw a third budget line on your graph from part B which will allow you to determine substitution and income effects for the change in demand for gold chains after the price change. F. What bundle of gold chains and pairs of shoes does Chris demand under the budget from part E? Label this on your graph. G. How much of Chris's change in demand for gold chains between part A and part C is due to substitution effect? H. How much of Chris's change in demand for gold chains between part A and part C is due to income effect