Juice e2 B2 15 18 25 Soda The above figure shows Bobby's indifference map for soda and juice. B1 indicates his original budget line. B2 indicates his budget line resulting from a decrease in the price of soda. What is the substitution effect? (input only a number) Add your answer Integer, decimal, or E notation allowed

ECON MICRO
5th Edition
ISBN:9781337000536
Author:William A. McEachern
Publisher:William A. McEachern
Chapter6: Consumer Choice And Demand
Section: Chapter Questions
Problem 1.3P
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Juice
e2
B2
15 18 25
Soda
The above figure shows Bobby's indifference map for soda
and juice. B1 indicates his original budget line. B2 indicates
his budget line resulting from a decrease in the price of soda.
What is the substitution effect? (input only a number)
Add your answer
Integer, decimal, or E notation allowed
Transcribed Image Text:Juice e2 B2 15 18 25 Soda The above figure shows Bobby's indifference map for soda and juice. B1 indicates his original budget line. B2 indicates his budget line resulting from a decrease in the price of soda. What is the substitution effect? (input only a number) Add your answer Integer, decimal, or E notation allowed
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