Discuss the income effect for normal and inferior goods

➢ The income effect describes the relationship between an increase in real income and demand for a good. The result of the income effect for a normal good is discernible to that of an inferior good in that a positive income change causes a consumer to buy more of a normal good, but less of an inferior good.

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step-by-step explanation:

if the four friends split the cost, p, of the pizza evenly, then each friend pays one-fourth of the cost of the pizza.

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