Please help me with my finals.

Subject: Microecnomics

Question # 1 (a) In the below figure, if income is $8, the initial price of a soft drink is $1, and the initial price of a milkshake is $2. [6] Soft drinks (per week] -NWALONG Milkshakes ( per week ) (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. (b) The table below gives the utility from pens and pencils. [8] Quantity of pens Total utility from pens Quantity of pencils Total utility from pencils 0 0 0 0 1 90 1 70 U AWN 155 120 200 150 225 165 240 174 6 246 6 176 (i) If the consumer has an income of $4, pens cost $1, and pencils cost $.20, which of the combinations maximizes the consumer's utility? (ii) If the consumer has an income of $4, pens cost $1, and pencils cost $.20, what is the consumer's total utility when he or she maximizes utility