he supply of aged cheddar cheese is inelastic, and the supply of bread is elastic. Both goods are considered to be normal goods by a majority of consumers. Suppose that a large income tax increase decreases the demand for both goods by 10%. The equilibrium quantity will a. Increase in both markets such that the size of the change in equilibrium quantity will be greater in the aged cheddar cheese market than in the bread market. b. Increase in the aged cheddar cheese market and a decrease in the bread market such that the size of the change in equilibrium quantity will be smaller in the aged cheddar cheese market than in the bread market. c. decrease in the aged cheddar cheese market and increase in the bread market such that the size of the change in equilibrium quantity will be larger in the aged cheddar cheese market than in the bread market. d. decrease in both markets such that the size of the change in equilibrium quantity will be smaller in the aged cheddar cheese market than in the bread market.

i would say iii (3) because in order to compare a price you have to use as a reference other near stores because it's its

hope i explained myself

two years ago, when picking flowers in the mountains back of yosemite valley, i found a book. it was blotted and storm-beaten; all of its outer pages were mealy and crumbly. the paper seemed to dissolve like the snow beneath which it had been buried, however; many of the inner pages were well preserved. and although all were more or less stained and torn, whole chapters were easily readable. this is the condition of the great open book of yosemite glaciers today; its granite pages have been torn and blurred by the same storms that wasted the castaway book.

two years ago, when picking flowers in the mountains back of yosemite valley; i found a book. it was blotted and storm-beaten, all of its outer pages were mealy and crumbly. the paper seemed to dissolve like the snow beneath which it had been buried, however, many of the inner pages were well preserved. and although all were more or less stained and torn; whole chapters were easily readable. this is the condition of the great open book of yosemite glaciers today, its granite pages have been torn and blurred by the same storms that wasted the castaway book.