Even though prices of eggs have risen considerably in recent months, demand continues to be strong. Explain what could be the likely reason:

a) The price of eggs is elastic, as it can fluctuate up and down, depending on market conditions.

b) The demand for eggs is inelastic, with little changes in demand in the face of price increases.

c) The supply of eggs remains elastic, despite the increase in prices.

d) The demand for eggs is elastic, and is therefore able to cope with price increases.

e) The supply of eggs is inelastic, leading therefore to broadly constant demand.