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Principles of Microeconomics

The following sample questions do not appear on an actual CLEP examination. They are intended to give potential test-takers an indication of the format and difficulty level of the examination and provide content for practice and review. For more sample questions and information about the test, see the CLEP Official Study Guide.

Question 2 of 8

Suppose that oranges and apples are close substitutes. If the price of apples decreases, the equilibrium price and quantity of oranges are expected to change in which of the following ways?

Price of Oranges     Quantity of Oranges

  • A.

    Increase         Increase

  • B.

    Increase         Decrease

  • C.

    No change         Decrease

  • D.

    Decrease         Increase

  • E.

    Decrease         Decrease

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