Suppose there is a permanent shift of consumer preferences away from pretzels and toward potato chips. The most likely result would be
A. short-run profits in the potato chip market increase.
B. in the short run, economic losses in the potato chip market.
C. in the long run, a fall in the supply of potato chips.
D. in the short run, a rise in the price of pretzels.
Answer: A
Economics
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