Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Cerrine earns a monthly salary of Php15,000 and she consumes Php 2,000 worth of chicken per month.When her income increased by Php 5,000 per month,

Cerrine earns a monthly salary of Php15,000 and she consumes Php 2,000 worth of chicken per month.When her income increased by Php 5,000 per month, she started to consume Php4,000 worth of chicken meat a month.Is Cerrine's demand for chicked meat normal, inferior, necessity or luxury?

-

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Principles of Economics

Authors: Gregory Mankiw

7th edition

128516587X, 978-1285165875

More Books

Students also viewed these Economics questions