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Scenario 5-1 Suppose That When the Average College Student's Income Is $10,000

question 24

Multiple Choice

Scenario 5-1
Suppose that when the average college student's income is $10,000 per year,the annual quantity demanded of Patty's Pizza is 50 and the annual quantity demanded of Sue's Subs is 80.Suppose that when the price of Patty's Pizza increases from $8 to $10 per pie,the quantity demanded of Sue's Subs increases from 80 to 100.Suppose also that when the average student's income increases to $12,000 per year,the annual quantity demanded of Patty's Pizza increases from 50 to 60.
-Refer to Scenario 5-1.What can you deduce about the type of good Patty's Pizza is and about the relationship between Patty's Pizza and Sue's Subs?

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Definitions:

24 Fps

The standard frame rate for cinema, making up the number of individual frames or images displayed per second in a film.

Persistence of Vision

This is the phenomenon where the human eye retains an image for a brief moment after its source has been removed, foundational to the illusion of motion in film.

Thaumatrope

A motion toy consisting of a round card with multiple images held on a string.

Limelight

A 1952 film written, directed by, and starring Charlie Chaplin, which explores themes of fame, love, and the transition of theatrical performance styles, also notable for a brief appearance by Buster Keaton.