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Consider the market for strawberries

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Consider the market for strawberries. Which of the following statements likely applies to the strawberry market?

a. The income elasticity of demand for strawberries is negative.

b. The price elasticity of supply of strawberries is greater in the short run than it is in the long run.

c. The price elasticity of demand for strawberries is lower in the long run than it is in the short run.

d. The cross-price elasticity of demand for strawberries with respect to raspberries is positive.

Reference no: EM131255562

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