Question: 2) (10 points) Consider this diagram which shows the effect of a decrease in the price of good X (from BC1 to BC2). The original

2) (10 points) Consider this diagram which shows the effect of a decrease in the price of good X (from BC1 to BC2). The original consumption is point A, the new consumption point B. Quantity of good Y 30- 25 U2 BC BC O 23456 8 10 12 14 Quantity of good X a) What is the original consumption for good X? b) When the price of good X goes down, what is the substitution effect for X? c) What is the income effect for X

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