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Cement is produced in a perfectly competitive market. If the income elasticity of demand for cement is $-2.3$, which of the following would result from a $10\%$ decrease in household incomes?

A

Supply of cement would increase.

B

Demand for cement would increase.

C

Supply of cement would decrease.

D

Demand for cement would decrease.

E

Supply and demand for cement would both decrease.

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