Demand for staples such as dairy products and bread is likely to be both income and price inelastic

After a nation starts importing a good from overseas, the domestic price of the good

A) stays the same. B) rises. C) falls. D) might change, but more information about what the country exports is needed to determine if the price rises, falls, or does not change. E) might change, but more information about what else the country imports is needed to determine if the price rises, falls, or does not change.

________ refers to the ability of sellers to affect market prices

A) Goodwill B) Market hold C) Market power D) Capital adequacy