Suppose an economist says that "Other things equal, the lower the price of strawberries, the greater the amount of strawberries purchased." This statement indicates that: O one cannot generalize about the relationship between the price of strawberries and the quantity purchased. O all factors other than the price of strawberries (for example, consumer tastes and incomes) are assumed to be constant. O the quantity of strawberries purchased determines the price of strawberries. economists can conduct controlled laboratory experiments.
Suppose an economist says that "Other things equal, the lower the price of strawberries, the greater the amount of strawberries purchased." This statement indicates that: O one cannot generalize about the relationship between the price of strawberries and the quantity purchased. O all factors other than the price of strawberries (for example, consumer tastes and incomes) are assumed to be constant. O the quantity of strawberries purchased determines the price of strawberries. economists can conduct controlled laboratory experiments.
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter6: Consumer Choice Theory
Section: Chapter Questions
Problem 5SQP
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