The following table gives projections of a consumer's demand for ice cream in liters. The the first is Q%d and the second Q'd resulted from an increase in the monetary income of the consumer. p> Q° to Q'a 5 10 20 4 12 23 3 15 27 2 20 35 1 30 50 a) Graph the points of the two demand projections and obtain the curves. b) What would happen if the price went down from 5 to 4 before the income went up?' c) At the price of 5, what happens when the individual's income increases. d) What if at the same time as the consumer's income increases the price drops from 5 to 3. e) What kind of good is ice cream. Normal or Lower.

Q&A Education