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Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383

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BuyFindarrow_forward

Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383
Textbook Problem

True or false? As the price of oranges rises, the demand for oranges falls, ceteris paribus. Explain your answer.

To determine

Explain the given statement is true or false.

Explanation

The statement “As the price of oranges rise, the demand for orange falls, ceteris paribus” is false. Because, the increase in price leads to a fall in quantity demanded of orange. The terms demand and quantity demanded are different concepts...

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