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If a grocery store increased retail food for inelastic and elastic products due to a supply shortage and labor shortage (for example, bc of the
If a grocery store increased retail food for inelastic and elastic products due to a supply shortage and labor shortage (for example, bc of the pandemic) and customer demand increased because of that (as there is a shorter supply) would that be an example of supply and demand or something else? And is it likely for businesses to increase prices if there is a limited supply?
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