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Ira Lisetskai [31]
3 years ago
15

As the percentage of the consumer's income accounted for by a particular good decreases, demand for the good will:

Business
1 answer:
Ilia_Sergeevich [38]3 years ago
7 0
So, let's look at the situation.
Let's say you earn 1000 Dollars. You typically spent 5% of it on pizza - 50 dollars.
but now this percentage will decrease - you will only spend 4 % - 40 dollars. So your budget for this food will be less - you will tend to buy less of this food. So the demand will also decrease.
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