Asked by
Brandon Lusch6633
on Nov 17, 2024Verified
Pizza is a normal good if the demand
A) for pizza rises when income rises.
B) for pizza rises when the price of pizza falls.
C) curve for pizza slopes upward.
D) curve for pizza shifts to the right when the price of burritos rises, assuming pizza and burritos are substitutes.
Normal Good
A type of good for which demand increases when income increases, and falls when income decreases.
Income Rises
An increase in the amount of money received by individuals or entities, typically through wages, investments, or business activities.
Demand
The total quantity of goods or services that consumers are willing and able to purchase at a given price level.
- Acknowledge the effects of changes in earnings on the market demand for different categories of merchandise.
Verified Answer
JL
Learning Objectives
- Acknowledge the effects of changes in earnings on the market demand for different categories of merchandise.