Question B4 Mr Saltamonte has a weekly income of $80 which he spends entirely on two goods, Bangers (B) and Mash (M). The price of Bangers is $2/kg and the price of Mash is also f2/kg. Using the axes exactly as shown in the following diagram: Mash (kgs) Bangers (kgs) (a) Identify the weekly budget constraint faced by Mr Saltamonte. [3 marks] (b) Calculate the slope of this weekly budget constraint. [2 marks] (c) Draw an indifference curve consistent with Mr Saltamonte maximising his wellbeing at a level of consumption of 15 kgs of Mash per week. [2 marks] (d) Reproduce your diagram and show the effect on Mr Saltamonte's budget constraint of a decrease in the price of Mash from 2/kg to f1.50/kg. [2 marks] (e) Assuming that Mash is a Giffen good, identify the effect upon Mr Saltamonte's consumption of Mash following this price decrease with a selection of indifference curves. [4 marks] (F) With accompanying discussion, identify on your diagram the income and substitution effects associated with this decrease in the price of Mash. [12 marks]