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For Each of the Following Four Sentences,determine Whether the Terminology

Question 163

Essay

For each of the following four sentences,determine whether the terminology of the supply and demand model is used correctly.
(A)"Pizza prices increased; therefore,the demand for pizza went down."
(B)"The demand for pizza increased; therefore,the price went up."
(C)"Pizza prices fell,decreasing the supply of pizza."
(D)"The supply of pizza increased; therefore,pizza prices declined."

Correct Answer:

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Statement (A)is not correct because high...

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