If Orange Juice and Apple Juice Are Substitutes, an Increase

question 88

True/False

If orange juice and apple juice are substitutes, an increase in the price of orange juice will shift the demand curve for apple juice to the left.

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Definitions:

Empirically

Grounded in, related to, or confirmable through direct observation or actual experience rather than through theory or abstract reasoning.

Scientific Hypothesis

An educated guess or prediction that forms the basis for an experiment and can be tested through observation and experimentation.

Imaginary Outcome

An envisioned result or scenario that exists only in one's imagination or as a construct of thought.