Papayas and Grapefruit Are Substitute Goods

question 127

Multiple Choice

Papayas and grapefruit are substitute goods. A drought in California destroyed a good portion of the grapefruit crop. Ceteris paribus,

• A) the price of both papayas and grapefruit will increase.
• B) the price of both papayas and grapefruit will fall.
• C) the price of grapefruit will increase, and the price of papayas will fall.
• D) the price of grapefruit will fall, and the price of papayas will increase.

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Definitions:

Coordinates

A set of values that show an exact position on a graph, map, or in a space.

Point

In geometry, it represents an exact location in space with no dimensions.

Quadrants

The four sections of the Cartesian plane, divided by the x and y axes, used to classify the position of points.

Assume

To accept something to be true without verification or proof, often used in the context of mathematical proofs and hypotheses.