The more top-heavy income distribution is, the closer the Lorenz curve will be to the line of perfect equality

If the U.S. Surgeon General announces that increased wheat consumption could cause heightened anxiety levels among children and adults, what happens to the equilibrium price and quantity of shredded wheat?

A) The equilibrium price rises and the equilibrium quantity increases. B) The equilibrium price falls and the equilibrium quantity decreases. C) The equilibrium price rises and the equilibrium quantity decreases. D) The equilibrium price falls and the equilibrium quantity increases.

How might a market research analyst use measures of elasticity-price, cross, and income-in her work? Explain