Suppose That When the Price of Oranges Decreases,the Sarita Decreases

question 37

Multiple Choice

Suppose that when the price of oranges decreases,the Sarita decreases her purchases of peaches.To Sarita,

• A)oranges and peaches are complements.
• B)oranges and peaches are inferior goods.
• C)oranges and peaches are normal goods.
• D)oranges and peaches are substitutes.

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Definitions:

Linear Trend Extrapolation

A forecasting method that extends a past data trend into the future to predict outcomes.

Heuristic Modeling

A simplifying approach in problem-solving that employs practical methods or shortcuts, even at the risk of inaccuracy, to reach decisions or judgments.

Data Mining

The process of analyzing large datasets to discover patterns, trends, and relationships that can inform decision-making and strategy development.

Predictive Information

Data or insights used to make forecasts about future events, trends, or behaviors, often leveraged in strategic planning and decision-making.