The average annual income rises from $25,000 to $38,000, and the quantity of bread consumed in a year by the average per

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The average annual income rises from $25,000 to $38,000, and thequantity of bread consumed in a year by the average person fallsfrom 30 loaves to 22 loaves. What is the income elasticity ofbread consumption? Is bread a normal or an inferiorgood? Is it possible for a normal good to become an inferiorgood? Is it possible for an inferior good to become a normalgood? Explain in detail and provide examples.
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