I don't know if the correct answer is 1 or 4 because both are very similar. Do we use the word quantity when we are talking about an increase or decrease in demand?. **Question:**Assuming that pizza is a normal good, if students' income at your college decreases substantially, there would be:- ○ a reduction in the demand for pizza.- ○ no change in the demand for pizza.- ○ an increase in the demand for pizza.- ● a decrease in the quantity of pizza demanded.**Explanation:**Normal goods are those goods for which demand increases when income increases, and decreases when income decreases. In this scenario, since students' income decreases substantially, we would expect a reduction in the demand for pizza, assuming it is a normal good.The correct choice is:- ● a decrease in the quantity of pizza demanded.

Normal good: A normal good refers to that good whose demand increases with the rise in and income…

Assuming that pizza is a normal good, if students' income at your college decreases substantially, there would be: O a reduction in the demand for pizza. O no change in the demand for pizza. an increase in the demand for pizza.

Assuming that pizza is a normal good, if students' income at your college decreases substantially, there would be: O a reduction in the demand for pizza. O no change in the demand for pizza. an increase in the demand for pizza.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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