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11-11-2022
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Joe works at a local grocery store. On Monday, he notices the price of oranges is $1/lb and people buy 50 lbs. On Friday, he notices the price has risen to $1.20/lb and people buy 60 lbs. "The price has risen and the quantity demanded has risen as well! The law of demand must be incorrect!" Joe proclaims.
Is his conclusion correct? Why or why not?

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