Hich of the following situations is an example of how income affects supply, demand, and consumption? A. Lobster and caviar are easily affordable in some neighborhoods, while hotdogs and coleslaw are easily affordable in others. B. Beef is extremely cheap in the US, where it is consumed often, but it is extremely expensive in Japan, where it is consumed less. C. Rice is a common staple in Asia, while potatoes are a common staple in America. D. Grocers in Arizona and Texas stock a large supply of Mexican products, while grocers in New York stock many kosher products. Please select the best answer from the choices provided. A B C D

1. which one of the following would be an example of a supply-side market failure? a. a gas station is slowly leaking diesel fuel from its underground tanks, and after the leak is discovered, the business immediately cleans up the pollution at its own expense. b. a gas station is slowly leaking diesel fuel from its underground tanks, but the state uses taxpayer money to clean up the pollution rather than requiring the business to pay. c. your business wants to attract repeat customers by putting on a customer-appreciation picnic at a public park, but you decide not to because you couldn't prevent noncustomers from consuming the food and entertainment you provided. d. everyone rushes to the local retail outlet at midnight on the day of the release of a new video game console, and the store runs out before everyone is able to buy one.