Economic

Aahba's demand function for x is given by x(Px, Py, m) = =m. Her income is $3200.00 per month. The current price of x is $5 and the price of y is $20. v 1st attempt Part 1 (2 points) See Hint If the price of x falls to $4, then Aahba's demand for x will change from units to units. Part 2 (2 points) See Hint If Aahba's income were to change at the same time, so that she could exactly afford her old commodity bundle, what would her new income be? $ What would her demand for x be at this new level of income? units of x Part 3 (4 points) See Hint The substitution effect is a change in demand from units of x to units of x. The income effect of the price change is a change in demand from units of x to units of x