Multiple Choice
Suppose the income of canned pinto bean consumers rises. All else equal, we can conclude that:
A) the income elasticity of demand is positive if beans are a normal good.
B) the income elasticity of demand is positive if beans are an inferior good.
C) the cross-price elasticity between beans and other goods is positive.
D) the cross-price elasticity between beans and other goods is negative.
Correct Answer:

Verified
Correct Answer:
Verified
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