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) if income is $8, the initial price of a soft drink is $1, and the initial price of a milkshake is $2. (i)A decrease
) if income is $8, the initial price of a soft drink is $1, and the initial price of a milkshake is $2.
(i)A decrease in the price of a milkshake to $1 will move the consumer from point __ to point __.
(ii)If the price of a milkshake decreases to $1, the income effect is the movement from point _to point _.
(iii) If the price of a milkshake decreases to $1, the substitution effect is the movement from point ___to point ___.
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