Show the next page Microeconomics for the Service Industry HADM 1410 Spring 2024 Homework #4 Alexander This problem set is due Wednesday, April 24 1) Jen purchases 35 Big Macs per month when the price is $1.79. An increase in the price to $1.89 results in Jen buying 32 Big Macs per month. Jen considers Big Macs to be an inferior good. a) Show the income and substitution effects (and their direction) of this price change. b) Derive Jen's demand curve for Big Macs. c) Calculate Jen's elasticity of demand for Big Macs. AOG y PROG B n = AQ / Q . AP / Po To - - 3 / 35 +.1 / 1.79 BM = -1,53 BOBo YP P -BI Po BM B, Bo