Lorena uses her income to consume two goods. Originally, she was consuming at point (a), but then good X became so popular that its price soared. This reduced her budget set and led her to consume at point (b). IC O a. Move the line labeled BC and place it such that a new hypothetical budget line identifies the changes in consumption attributed to the substitution effect. (a) IC 1 Based on your new diagram, answer the questions. BC (b) b. For the consumption of good X, the substitution effect is greater than the income effect. Quantity of good Y O is equal to the income effect. O is less than the income effect. c. For the consumption of good Y, the substitution effect is greater than the income effect. is equal to the income effect. O is less than the income effect. Quantity of good X

Fill in the table below, giving a numerical value for letters A, B, C, and D. TC AFC AVC 50 1 90 A B D 30 2.

8 Write an email (120-150 words) to ask for • information about an activity that you would like to do. Use an idea from the list or your own idea. Follow the content checklist and remember to use indirect questions. a course at a college or with a one-to-one tutor a sport / activity at a gym joining a volunteering group Checklist • how you heard about the course / activity/group ⚫ the days and times ⚫ the cost if you need any experience / skills • if you need any equipment

https://www.youtube.com/watch?v=4rUfoU04QJM please I need a short summary of this video