Beginning in a state of equilibrium in our consumer, Macroeconomics

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Beginning in a state of equilibrium in our consumer

Question: Please do it by type not pic.

1. Beginning in a state of equilibrium in our consumer equilibrium model (food is situated on the Y-axis and beverage on the X-axis). Graphically illustrate the income and substitution effect from a fall in the price of beverage (ceteris paribus) when beverage is a normal good. Label clearly.

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Macroeconomics: Beginning in a state of equilibrium in our consumer

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Macroeconomics: Beginning in a state of equilibrium in our consumer

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