Question: Graph the budget set in : ??1- ??2 space for someone with Y = 1, 000, and discuss the effect on savings (in terms of

Graph the budget set in : ??1- ??2 space for someone with Y = 1, 000, and discuss the effect on savings (in terms of income and substitution effects) for three types of individuals: those initially saving $50, those initially saving $300, and those initially saving $600. (c) Solve for the optimal amount of savings under this program for an individual with Y = 1000, = 0.9, and = . What is the effect of this program on this individual's savings

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