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Rice and Potatoes Are Substitutes

Question 261

Essay

Rice and potatoes are substitutes.If the price of rice rises and there is a bumper crop of potatoes, in the market for potatoes one would expect the:
A.equilibrium price to rise, fall, or stay the same and equilibrium quantity to rise.
B.equilibrium price to rise and the equilibrium quantity to fall.
C.equilibrium price and quantity both to fall.
D.equilibrium price to rise and the equilibrium quantity to fall, rise, or stay the same.

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