Q1 For each of the utility functions below calculate the Substitution effect and Income effect when the price of x₁ changes from $10 to $25 and the price of x₂ stays constant at $20. The consumer's endowment is (50, 25). (a) u(x1, x₂) = x² + x² (b) u(x1, x₂) = 2x₁ + x₂ (c) u(x₁, x₂) = 10x0.5 + x2

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