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1 year ago

If the demand for steak (a normal good) shifts to the left, the most likely reason is that:______.

1 answer:

4 0

If the demand for steak (a normal good) shifts to the left, the most likely reason is that consumer income has fallen.

<h3>What is a normal good?</h3>

Normal goods are goods that are goods whose demand increases when income increases and falls when income falls.

The demand curve shows the relationship between price and quantity demanded. A shift to the left of the demand curve indicates that demand has decreased.

To learn more about normal goods, please check: brainly.com/question/2934596

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Answer:

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Explanation:

Giving the following information:

Selling price= $500

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<u>To calculate the break-even point in units using the mathematical equation, we need to use the following formula:</u>

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