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

apple321

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

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the price of the food item rises.

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income elasticity of demand (for the food item) is greater than 1.

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the supply curve is price elastic.

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real income rises as a result.

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none of the above

Textbook

Economics

Edition: 12^th

Author: Arnold

Read 36 times

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wackocrazy

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More solutions for this book are available here

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apple321 Author

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Thank you, thank you, thank you!

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this is exactly what I needed

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This helped my grade so much Perfect

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