Suppose There Is a Permanent Shift of Consumer Preferences Away

Multiple Choice

Suppose there is a permanent shift of consumer preferences away from pretzels and toward potato chips. The most likely result would be

A) in the short run, economic losses in the potato chip market.
B) in the long run, a fall in the supply of potato chips.
C) in the short run, a rise in the price of pretzels.
D) short-run profits in the potato chip market increase.