Final answer:
A decrease in demand for price inelastic cocoa beans could lead to a decrease in income for producers, potentially lower prices for cocoa bean products, a reduction in production of the beans, and an increase in unemployment among cocoa bean farmers.
Step-by-step explanation:
If the demand for cocoa beans is price inelastic, it means that a change in price does not significantly affect the quantity demanded. In the scenario where demand for cocoa beans decreases, several things could happen. First, the income of cocoa bean producers may decrease because they would be selling fewer beans at presumably the same or lower prices.
However, because demand is inelastic, this might not result in a substantial decrease in revenue. Secondly, the price of cocoa bean products may not increase as the decrease in demand indicates less willingness or ability by consumers to purchase the products. If producers decide to reduce prices to maintain sales, this could result in price reductions.
With a decrease in demand, it is possible for the production of cocoa beans to be reduced as producers adjust to the lower demand levels. Lastly, unemployment among cocoa bean farmers could potentially increase if the decrease in demand leads to a reduction in production, and hence, less need for labor.