Which of the Following Events Leads to a Rise in the Price

question 57

Multiple Choice

Which of the following events leads to a rise in the price of oranges?

• A)a rise in the price of apples if apples and oranges are substitutes
• B)a decrease in income if oranges are a normal good
• C)a technological improvement in the production of oranges
• D)a scientific discovery that oranges cause hair loss
• E)good growing weather in Florida

---

Definitions:

Interest in the Partnership

Refers to a partner’s share or stake in both the assets and profits (or losses) of a partnership, often governed by a partnership agreement.

Share of Profits

A proportion of the profits earned by a business that is allocated to an individual or entity, often based on ownership interest.

Partnership by Estoppel

A legal partnership that exists when a person has been represented as a partner in a firm and has acted upon that basis, despite not officially being a partner.

Partnership Agreement

A legal document outlining the terms of a business partnership, including the responsibilities, profit distribution, and rules for dissolution.