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[Solved]: Jacks spends all his money on pizzas and books. No
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(Solved): Jacks spends all his money on pizzas and books. Now, due to the recession, both his income and the p ...



Jacks spends all his money on pizzas and books. Now, due to the recession, both his income and the price of pizza decreases whereas the price of book stays the same. Which of the following is true? a. if pizza is a normal good, then Jake will buy less pizza. b. If book is a normal good, then Jake will buy more book. c. If pizza is an inferior good, then Jake will buy more pizza. D. If book is an inferior good, then Jake will buy less book.



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