Hello! I'd greatly appreciate answers to these questions as they confuse me to no end. Clear enough handwriting & steps are appreciated. Thanks :)

1. True or false (a) Suppose potatoes are an inferior good. When the price of potatoes increases, the substitution effect causes the consumer to buy fewer potatoes, but the income (d) Your boss is concerned that hybrid cars may impact demand for gasoline. Propose effect causes the consumer to buy more potatoes. a modified version of the demand curve for gasoline that includes a variable for (b) For a normal good the income expansion path and the Engel curve will be upward the price of electricity (PE), where electricity is a substitute for gasoline, and sloping. show using the elasticity of demand equation that it is indeed a substitute in (c) Suppose an individual consumes two goods: pizza and soda, and they always consumption. prefer bundles with more pizza and more soda, this preference relation is complete. 3. Consider a consumer with utility for pizza (p) and soda (s) given by U(p, s) = 3p1/32/3. 2. The quantity of gasoline supplied depends on the price of gasoline (P) and the number Assume the price of pizza is Pp = $4, the price of soda is Ps = $2, and the consumer of new oil wells discovered (W). The estimated supply function is: has income $48. Qs = 20W + 100P. (a) What is the bundle of goods that maximizes utility? (b) Suppose the price of pizza increases to $5. What is the new bundle of goods that The demand for gasoline depends on the price of gasoline and the level of income (I). The estimated demand function is: maximizes utility? Find the substitution effect of the increase in the price of pizza on each good. Find the income effect of the increase in the price of pizza on each QD = 4000 - 100P + 101. good. (a) Find the equilibrium price (P*) and quantity (Q*) of gasoline as a function of the (c) Assume now that the consumer can also purchase chips (c). Let the consumer's exogenous variables (W and I). utility be U(p, s, c) = 3p1/32/3cl/3. Assume the price of pizza is $4, the price of soda is $2, the price of chips is $1, and the consumer has an income of $48. What (b) What happens to the equilibrium price and quantity when income decreases by 100? Include the direction and magnitude of the change. bundle of goods maximizes the consumer's utility? (c) Assume W = 100 and I = 100. Now suppose the government has decided to tax sellers of gasoline by $1 per unit. What is the deadweight loss of this tax