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6) Discovering a good business opportunity, you open a burger stand on Main Mall. One day, your supplier, Professor Gateman, tells you that the price

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6) Discovering a good business opportunity, you open a burger stand on Main Mall. One day, your supplier, Professor Gateman, tells you that the price of meat is rising. In order to maintain your profit margin, you decide to increase your price as well. However, after you have increased your price, people have stopped buying burgers from you. You ask Prof. Gateman for the reason, he tells you... a. \"The supply of your burger is inelastic, because you have a part-time job as a TA.\" b. \"The demand of your burger is elastic, because it is a luxury good to the poor students.\" c. \"The supply of your burger is inelastic, so you increased your price more than your competitors did.\" d. \"The demand of your burger is elastic, because people can easily go to SUB for similar food items.\" e. \"Go make a difference."

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