If the price of a good increases, then Select one: A. the demand for complementary goods will increase. O B. the demand for the good will increase C. the demand for the good will decrease O D. None of the above

Using the graph, determine the type of good X. The price increases from Po to P₁. The substitution effect is illustrated by the change in quantity demanded from A to B; the income effect is illustrated by the change in quantity demanded from B to C. Good X is certainly a(n) good. OA. Giffen B. luxury C. inferior D. normal E. necessity P₁ Price Po C B 00 Good X A D Quantity

Think Critically a. Use the data below to construct a demand curve for pizza. Price Quantity 14 100 12 200 10 300 8 400 6 500   b. Explain two (2) reasons why the demand curve has a negative slope. c. For each of the following situations relating to the demand for pizza. identify the factor affecting demand demonstrate on the axes provided, and explain, the effects of the change.   (I)an increase in the price of hamburgers Factor: ___________________________________ Explanation:  ______________________________ (II) a media report announces that eating pizza increases the risk of heart disease  Factor: ___________________________________ Explanation: ______________________________ d. What role does price play in the market and how does the type of market impact on the determination of price?

Answer the following questions