Suppose you learn that in 1900, households spent about 40 percent of their budget on food, and today, they spend about 10 percent of their budget of food. All else equal, this suggests that the price elasticity of demand for food:

A.is probably lower now than it was in 1900.

B.is probably negative.

C.has always been very high.

D.is probably higher now than it was in 1900.

正确答案：is probably lower now than it was in 1900.