Answer to Question #311025 in Microeconomics for Christinah

Question #311025

Show a diagram how the decrease in income level in country will affect the demand for meat


1
Expert's answer
2022-03-14T13:15:39-0400


A decrease in income level induces an income effect thus causing low purchasing power. Meat is a normal good. Therefore decrease in income leads to lower demand at every given price, causing a shift in the demand curve to the left,(D¹ to D²).


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