What Would Happen in the Market for Canned Pinto Beans

question 266

Essay

What would happen in the market for canned pinto beans if individuals' incomes increased?
A.The income elasticity of demand would be positive if beans are a normal good.
B.The income elasticity of demand would be positive if beans are an inferior good.
C.The cross-price elasticity between beans and other goods would be positive.
D.The cross-price elasticity between beans and other goods would be negative.

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