Refer to the information provided in Figure 3.4 below to answer the question(s) that follow. Figure 3.4
-Refer to Figure 3.4. If consumer income increases, the demand for tuna fish sandwiches shifts from D₀ to D₁. This implies that tuna fish sandwiches are a(n)

Question

Refer to the information provided in Figure 3.4 below to answer the question(s) that follow.

Figure 3.4
-Refer to Figure 3.4. If consumer income increases, the demand for tuna fish sandwiches shifts from D₀ to D₁. This implies that tuna fish sandwiches are a(n)

Quizplus · Accepted Answer

When consumer income increases and the demand for a product also increases, it implies that the product is a normal good. This is because consumers buy more of the good as their income rises, indicating a positive relationship between income and demand for the product.

Refer to the Information Provided in Figure 3