The Commerce Ministry of a country conducts regular surveys on goods and services sold within the country. Researchers at the Ministry study consumer behavior through the choices the consumers make while deciding what to buy. Their report on the industry for beverages last year indicated that the price elasticity of demand for fruit juices in the country was -0.8, while the price elasticity of demand for a particular brand called Fruit Drops was-1.2. According to the report, an average consumer spends about 1 percent of his monthly income on fruit juices. A student ofeconomics, Julio, however feels that the current price elasticity of demand for Fruit Drops is actually higher than -1.2, based on his own experience in purchasing fruit juices. Which of thefollowing, if true, would support Julio's view that the price elasticity of demand for Fruit Drops is higher?A. The average income level of consumers has increased this year as compared to last year. B. The company that manufactures Fruit Drops also produces a variety of other goods. C. Three new brands have been introduced in the market for fruit juices in the last month. D. The management of one of the leading competitors of Fruit Drops was recently accused of manipulating profit figures. E. Fruit Drops is a very popular brand of fruit juice in this country.