The figure given below shows the demand curves for five products: A, B, C, D, and E.Figure 6.1

-If the demand for beans tends to decline as incomes rise, everything else held constant, beans are _____.
A)luxury goods
B)normal goods
C)price sensitive
D)not price sensitive
E)inferior goods

Question

The figure given below shows the demand curves for five products: A, B, C, D, and E.Figure 6.1
 
-If the demand for beans tends to decline as incomes rise, everything else held constant, beans are _____.
A)luxury goods 
B)normal goods 
C)price sensitive 
D)not price sensitive 
E)inferior goods

Quizplus · Accepted Answer

The demand for beans tends to decline as incomes rise, which means that beans are an inferior good.

The Figure Given Below Shows the Demand Curves for Five