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(Figure: Graph) Use the Graph to Answer the Following Questions

Question 115

Essay

(Figure: Graph) Use the graph to answer the following questions.
(a) What change caused the movement from point V to point W?
(b) What change caused the movement from point T to point W?
(c) If the item is a normal good, in what direction did income change to cause the shift from point P to point W?
(d) If the item is an inferior good, in what direction did income change to cause the shift from point T to point Q?
(Figure: Graph) Use the graph to answer the following questions. (a) What change caused the movement from point V to point W? (b) What change caused the movement from point T to point W? (c) If the item is a normal good, in what direction did income change to cause the shift from point P to point W? (d) If the item is an inferior good, in what direction did income change to cause the shift from point T to point Q?

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