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Demand for Singapore tourism is steady, but Singapore's capacity to host tourists has fallen (supply has decreased) because of a pandemic. This is beneficial for
Demand for Singapore tourism is steady, but Singapore's capacity to host tourists has fallen (supply has decreased) because of a pandemic. This is beneficial for Singapore if demand is ______ and the ______ effect is larger than the ______ effect.
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a
inelastic; price; quantity
b
elastic; price; quantity
c
inelastic; output; price
d
elastic; output; price
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