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1. True or false? As the price of oranges rises, the demand for oranges falls, ceteris paribus. Explain your answer. 2. The price of a

1. True or false? As the price of oranges rises, the demand for oranges falls, ceteris paribus.

Explain your answer.

2. The price of a bushel of wheat, which was $3.00 last month, is $3.70 today. The demand curve for wheat must have shifted leftward between last month and today. True or false? Explain your answer.

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