Multiple Choice
When Joe's income is $100 per week,he spends $20 per week on pizza.When his income rises to $110 per week,he spends $25 per week on pizza.If the price of pizza remained constant during this time,this information implies that,for Joe:
A) pizza is a normal good.
B) pizza is an inferior good.
C) pizza is a substitute good.
D) demand for pizza is price-elastic.
Correct Answer:

Verified
Correct Answer:
Verified
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