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    Managerial Economics and Business Strategy Study Set 1
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    Exam 2: Market Forces: Demand and Supply
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    Apples and Oranges Are Substitutes
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Apples and Oranges Are Substitutes

Question 134

Question 134

Essay

Apples and oranges are substitutes.A freeze in Florida destroys most of the orange crop.What would you expect to happen to the market for the following:
a.Oranges?
b.Apples?
c.Orange juice?

Correct Answer:

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a.The demand for oranges does not change...

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