leilaneedshelp2825 leilaneedshelp2825
  • 20-01-2021
  • Business
contestada

The income of consumers has decreased. You know that canned meat is an inferior good. What will happen to the equilibrium price and quantity of canned meat

Respuesta :

jepessoa
jepessoa jepessoa
  • 25-01-2021

Answer:

Since canned food is an inferior good, as consumers' income decreases, the demand for canned food will increase.

Explanation:

When consumer income decreases, the aggregate demand curve shifts tot he left. This will decrease the consumption normal goods, especially luxury goods. But it will also increase the consumption of inferior goods, such as canned food, noodles, etc.

Answer Link

Otras preguntas

What part of the United Nations is the most powerful?
Sara wants to buy a video game console. The console costs $299.99 and the store is offering a discount of 25%. If there is a sales tax of 7%, how much will the
Please help me I really need help Animal Farm, Chapter 10. While the animals were spying on the pigs and humans, what was revealed about the way they were being
2.Think of a movie or a book in which someone has to stand up to a group. Why does thischaracter refuse to follow along and engage in herd behavior? In other wo
Express 8.4km/min in km/hr * 504 km/hr 84 km/hr 550 km/hr
Which of these is most likely to be a typical issue separating opposing candidates in the national election? A. increasing the speed limit on interstate highw
Can someone help me, please!!
A 0.5 kg ball is at the top of a ramp which is 8 meters high. How muchVinetic energy does the ball have at the bottom of the ramp? (round theanswer to the tenth
What bone is the most common break
HELP ME PLZ!! NEED HELP!!