The following graph applies to a consumer for whom good x is an inferior good.The price of x falls from p to p', and one of the curves below represents the consumer's (uncompensated) demand curve while the other represents the consumer's compensated demand (or MWTP) curve. 
a.Which curve is which? (Explain.)
b.What is it about these curves that makes them intersect at the original price p?
c.Once the consumer has optimized at the new price p', illustrate the new (uncompensated) demand and the new MWTP curve.
d.For curves that have shifted, explain why; for curves that have not shifted, explain why as well.
Definitions:
Net Operating Income
Income generated from normal business operations after deducting operating expenses but before interest and taxes.
Marketing Manager
A professional responsible for overseeing and guiding a company's marketing strategies and campaigns.
Advertising Campaign
A series of advertisement messages that share a single idea and theme aimed at reaching a particular audience.
Net Operating Income
The earnings a business achieves following the removal of operational costs from the income earned through its activities.
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