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On the following table, indicate which point movement represents the substitution effect and income effect for fancy dinners when the price decreases from $160 to

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On the following table, indicate which point movement represents the substitution effect and income effect for fancy dinners when the price decreases from $160 to $40. Then indicate the consumption change that results from each effect. Consumption Change Fancy Dinners Represented By... (Quantity of fancy dinners) Substitution Effect Income Effect In this case, the price decrease of fancy dinners causes the Albertis's real income to . Because of the change to Van and Amy's real income and the direction of the income effect, fancy dinners are for the Albertis

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