-The Above Figures Show the Market for Oranges

question 294

Multiple Choice

-The above figures show the market for oranges. Which figure shows the effect of changing consumer preferences for more orange juice and less coffee in the morning?

• A) Figure A
• B) Figure B
• C) Figure C
• D) Figure D

---

Definitions:

Inferior Good

A good for which an increase in income reduces the quantity demanded

Good A

A placeholder term typically used in economic models to represent a generic item or service in the market.

Income Falls

A situation where an individual's or group's earnings decrease over a period of time.

Normal Good

A good for which an increase in income raises the quantity demanded.