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Consider the Market for Apples

Question 51

Multiple Choice

Consider the market for apples. Assuming that apples and oranges are substitutes, an increase in the price of oranges will:


A) decrease the demand for apples, creating a lower price and a smaller amount of apples purchased in the market.
B) increase the demand for apples, creating a higher price and a greater amount of apples purchased in the market.
C) decrease the supply of apples, creating a higher price and a smaller amount of apples purchased in the market.
D) increase the supply of apples, creating a lower price and a greater amount of apples purchased in the market.

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