Consider a consumer who consumes good 1 and good 2 with her income In. The prices of these goods are given by p1 and p2, respectively. A. Suppose that the consumer always spends 50% of her income on good 1 and the rest on good 2, regardless of the prices of the goods or her income. Calculate (algebraically) the consumer's marginal willingness to pay for good I (in terms of good 2). Does it decrease with the amount of good 1 the consumer consumes? lfso (or if not), explain a basic reason why (or why not). Does the consumer follow the law of demand for good 1? Explain your anstver in terms of the income and substitution effects. Suppose that the consumer's demands for good 1 and good 2 are estimated as x1 = 10 2131 + p: and x2 = 10 2p; + p1. The prices ofgoods were p1 = 1 and p2 = 1. Due to an economic shock. the price of good 1 increases from p1 = 1 to pi = 2. How does this shock affect the consumer's well-being (i.e., utility from consumptions)? Explain your answer Using graphs. Using the change in the consumer's surplus. calculate the impact of the shock on the consumer