Question: QUESTION ONE (5 MARKS) Use an appropriate diagram, explain how the income and substitution effects influence consumer behavior when the price of a normal good

QUESTION ONE (5 MARKS) Use an appropriate diagram, explain how the income and substitution effects influence consumer behavior when the price of a normal good falls. QUESTION ONE (5 MARKS) Illustrate how the consumer adjusts their consumption using indifference curves when the price of one good changes.

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