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
A
Economics
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When a manager makes decision then looks for information to justify the decision, it is called
a. implicit favorite model b. bounded rationality model c. econological model d. none of the above
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Who is more likely to offer a money-back guarantee: a seller of a lemon or a seller of a plum? Why?
What will be an ideal response?
Economics