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In Maine, USA, what was the consequence of decreased real income on the demand for lobsters?
  • a)
    Increased demand
  • b)
    Decreased demand
  • c)
    Increased supply
  • d)
    Decreased supply
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
In Maine, USA, what was the consequence of decreased real income on th...
Decreased real income led to a decrease in the demand for luxury goods like lobsters.
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