"Because Apples and Oranges Are Substitutes, an Increase in the Price

question 109

Multiple Choice

"Because apples and oranges are substitutes, an increase in the price of oranges will cause the demand for apples to increase.This initial shift in demand for apples results in a higher price for apples; this higher price will cause the demand curve for apples to shift to the right." Which of the following correctly comments on this statement?

• A)The statement will be true if consumer tastes for apples and oranges do not change.
• B)The statement is false because a change in the price of apples would not change the demand for apples.
• C)The statement is false because oranges are inferior goods; apples are normal goods.
• D)The statement is false because one cannot assume that apples and oranges are substitutes for all consumers.

Apply the concept of marginal substitution rates in understanding consumer preferences and optimal allocations.

Recognize the effects of market interdependencies on general and partial equilibriums.

Apply general equilibrium analysis to real-world scenarios involving changes in policy, technology, or external conditions.

Understand the physiological mechanisms that regulate blood pressure and heart rate.

---

Definitions:

Tertiary Prevention

Focuses on managing and rehabilitating a disease or condition to prevent further deterioration or complications.

Reported Child Maltreatment

Instances of abuse or neglect of children that have been officially documented or brought to the attention of authorities.

Gender Schema

Gender Schema is a cognitive framework that organizes information relating to gender and helps individuals understand and interpret gender-related information.

Appearance

The way that someone or something looks to other people, including physical features, clothing, and grooming.