The graph illustrates the demand for peanuts. Peanuts are a normal good because the
A) demand curve shows that if the price of peanuts rises, there is a movement along the demand curve to a lower quantity demanded.
B) demand for peanuts increases when income increases.
C) demand for peanuts increases when the price of one of its substitutes rises.
D) demand curve for peanuts slopes downward.
E) peanuts have both substitutes and complements.
B
Economics
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Suppose that a paper producer dumps its waste into a local river. Explain why this situation is inefficient
What will be an ideal response?
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Creating market power through the use of tariffs or quotas can
A) drive price to the monopoly level. B) increase the world price of the good that is targeted. C) increase government revenue. D) All of the above.
Economics