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1 year ago

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

Business

1 answer:

erica [24]1 year ago

4 0

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.

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3 years ago

Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The

earnstyle [38]

Answer:

Total cost= $2,040

Explanation:

Giving the following information:

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3 years ago

The rate that a state assigns reflecting a company's stability or instability in employing workers is the:

Nataly [62]

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3 years ago

Suppose the demand for good X is given by Qd x = 10 - 2Px + Py + M. The price of good X is $1, the price of good Y is $10, and i

tekilochka [14]

Answer:

Option D.

Explanation:

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