Answered

IDNLearn.com is the perfect place to get answers, share knowledge, and learn new things. Our experts provide timely, comprehensive responses to ensure you have the information you need.

Pizza is a normal good. if students' incomes at your college increase, the effect on pizza will be:________

Sagot :

Aamirmajeed5100idn

Answer:

Normal goods have a positive relationship with income & purchasing power parity (PPP) with an increase in income ( I )  consumption of normal goods also increased respectively.

So, with the increase in students' income consumption of Pizza will be increased

As normal goods have a positive income elasticity of demand coefficient but it will be less than one.

Explanation:

Let’s discuss the normal goods, as a decrease in the price of normal goods its consumption will boost or increase. As when normal goods become cheaper, they will be consumed much as we know that people will consume them because of the logical reasoning of cheaper than its substitutes. Likewise, with an increase in income, its consumption will also increase but at a stage where it will become inelastic or constant.

You can learn more about Economics

at https://brainly.com/question/28179544

#SPJ4

View image Aamirmajeed5100
We are happy to have you as part of our community. Keep asking, answering, and sharing your insights. Together, we can create a valuable knowledge resource. Your questions deserve precise answers. Thank you for visiting IDNLearn.com, and see you again soon for more helpful information.