Suppose a consumer spends $100 of income on two goods-buying 4 units of good X (priced at $10) and 3 units of good Y (priced at $20). Both are substitute goods. Using indifference curves and budget constraints, illustrate the effect of a $10 decrease in the price of good Y on the consumer's optimal consumption bundle.

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The Answer of Suppose a consumer spends $100 of income on two goods-buying 4 units of good X (priced at $10) and 3 units of good Y (priced at $20). Both are substitute goods. Using indifference curves and budget constraints, illustrate the effect of a $10 decrease in the price of good Y on the consumer's optimal consumption bundle.

Suppose a Consumer Spends $100 of Income on Two Goods-Buying