Demand for a Food Item Increases by More Than the Supply

question 82

Multiple Choice

Demand for a food item increases by more than the supply of the food item.One thing for certain is that

• A)the price of the food item rises.
• B)income elasticity of demand (for the food item)is greater than 1.
• C)the supply curve is price elastic.
• D)real income rises as a result.
• E)none of the above

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