Jamal consumes only two goods: lollipops and chewing gum. He treats these two goods as perfect substitutes, with one lollipop being a perfect substitute for a pack of chewing gum. Initially, the price of a lollipop is $2.20, while packs of chewing gum are $5.50 each. Jamal has $20 per week to spend on these two goods. Suppose the price of chewing gum decreases to $3.30. In your responses, give your answer to two decimal places.
What is the substitution effect associated with the change in the price of chewing gum?
What is the income effect associated with the change in the price of chewing gum?

whole quiz

1. the sum of all activities involved in getting high-quality products into the marketplace

2.operations

3. the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.

4. produced; performed

5. activities producing tangible products, such as radios, newspapers, buses, and textbooks.

6. activities producing intangible and tangible products, such as entertainment, transportation, and education.

7.   customer focus

8. analyzing a competitor's products to identify desirable improvements

9. the systematic direction and control of the processes that transform resources into finished projects that create value for and provide benefits to consumers.

10. operation management.

your welcome leave a rate and a < 3

answerblank(1) starts; blank(2); // cash cows;