There is only one supermarket in Beverly Hills, California because
A) supermarkets can't compete effectively against residents in buying land.
B) supermarket owners are paying attention to sunk costs in their location decisions.
C) the demand for food is highly elastic in wealthy neighborhoods.
D) the demand for food is highly inelastic in wealthy neighborhoods.
E) wealthy people rarely do their own grocery shopping.
A
Economics
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a. True b. False Indicate whether the statement is true or false
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