Assume that the equilibrium price of French fries rises, while the equilibrium quantity falls. The most consistent explanation for this observation is: a. An increase in the price of onion rings (a substitute for French fries). b. A fall in the price of onion rings. c. A rise in the price of potato bread (production-side substitute for French fries) d. A fall in the price of potato bread. Note: the answer is alternative C) and you are asked to argue why it is correct; and further argue why the other alternatives are false or uncertain.

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