Multiple Choice
If the price of grapefruit rises, the substitution effect due to the price change will cause
A) a decrease in the demand for grapefruit.
B) a decrease in the demand for oranges, a substitute for grapefruit.
C) a decrease in the quantity of grapefruit demanded.
D) a decrease in the quantity of grapefruit supplied.
Correct Answer:
Verified
Correct Answer:
Verified
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