A new dog toy is introduced in pet stores in April for $19.99, but by December the toy is being sold for $4.99. According to the law of supply and demand which is most likely to be true about the dog toy?
A) Supply for the toy was low but demand was high
B) Supply for the toy was high but the demand was low
C) Both the supply and the demand for the toy were low
D) Both the supply and the demand for the toy were high
E) Answer cannot be determined
Correct Answer:
Verified
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