Answered step by step
Verified Expert Solution
Question
1 Approved Answer
If the price of tangerines increases, the price of oranges also rises because a- if the supply of tangerines decreased, then the supply of oranges
If the price of tangerines increases, the price of oranges also rises because
a- if the supply of tangerines decreased, then the supply of oranges also must decrease.
b- buyers' incomes must have decreased and oranges are an inferior good.
c- consumers consider the two goods substitutes and demand for oranges increases.
d- consumers consider the two goods complements and so sellers decreased the supply of oranges.
Please explain it clearly and avoid handwriting
Thank you
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started