Use a diagram to illustrate how each of the following events affects the equilibrium price and quantity of pizza. (30 Pts) a. The price of mozzarella cheese rises. b. The health hazards of hamburgers are widely publicized. c. The incomes of consumers rise and pizza is an inferior good.

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A: Given  Mr. Ali decided to buy some sandwich and burger for his family. As he found the price of…

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Q: the

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A:

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Q: Question 7

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Normal and Inferior Goods

Understanding a normal good and an inferior good is important because it tells us what will happen to demand different products during booms and recessions.