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  3. 3 3 pts on the graph below break down the...

Question: 3 3 pts on the graph below break down the...

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3. (3 pts.) On the graph below, break down the change resulting from the increase in the price of X into income and substitution effects. Note that in this case there is an increase in the price of X. B2 Y- B1 Xi X1 Is X a normal or inferior good? 4. (3 pts.) On the graph below, break down the change resulting from the increase in the price of X into income and substitution effects. Note that in this case there is a decrease in the price of x. 81 Y1 B> Xi X What kind of goods are these?

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