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Maria buys gluten-free bread. The price for 1 loaf of gluten-free bread at the grocery store is $7.50. Maria buys 3 loaves with this price.
Maria buys gluten-free bread. The price for 1 loaf of gluten-free bread at the grocery store is $7.50. Maria buys 3 loaves with this price. Due to the popularity of gluten-free products, the price increases from $7.50 to $10 per loaf. As a result, Maria now only buys 1 loaf of gluten-free bread. 1. The increase in price for gluten-free bread is due to the shift in supply curve. 2. If the price for gluten-free bread increases, Ceteris Paribus, Maria will consume less quantity of gluten-free bread. 3. If the price for gluten-free bread decreases, Ceteris Paribus, demand for gluten-free bread increases. Which of the above statements are true
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