what does the description of the setting in paragraph 2 tell the reader about the economic conditions in the…

what does the description of the setting in paragraph 2 tell the reader about the economic conditions in the town?\nit was a big, squarish frame house that had once been white, decorated with cupolas and spires and scrolled balconies in the heavily lightsome style of the seventies, set on what had once been our most select street. but garages and cotton gins had encroached and obliterated even the august names of that neighborhood; only miss emilys house was left, lifting its stubborn and coquettish decay above the cotton wagons and the gasoline pumps - an eyesore among eyesores. and now miss emily had gone to join the representatives of those august names where they lay in the cedar - shammed cemetery among the ranked and anonymous graves of union and confederate soldiers who fell at the battle of jefferson.\na the towns wealth is in the hands of only a few people, with the majority living in poverty.\nb the town is trying to erase an image of poverty that has remained from the past.\nc the town was quite prosperous at one time, but it has since lost much of its wealth.\nd the towns wealth is in the hands of only a few people, with the majority living in poverty.
Answer
Brief Explanations:
The description mentions a once - select street now encroached by garages and cotton gins, and Miss Emily's house standing as a relic of a past era. This implies the town was prosperous in the past but has lost much of its wealth.
Answer:
C. The town was quite prosperous at one time, but it has since lost much of its wealth.