Question: can i get the answer step by step thx a lot 4. {20 points) Suppose that X is an inferior good and there is a

can i get the answer step by step thx a lot

4. {20 points) Suppose that X is an inferior good and there is a price increase in X. Draw the change using the graph below, Showing the intermediate change as well as the nal consumption bundle. Specically, do the following: . Label the initial consumption bundle as A, intermediate as B, and nal as C. . Show which part is the substitution effect, and which is the income effect. . Label the initial, intermediate, and the nal budget constraint (BOA, BOB, BOO). . Label the initial and the nal indifference curves (HA, no). Y a

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