An oligopoly market is characterized by limited number of sellers, each having complete control over the market price level as in case of monopoly

When the Condorcet system of voting is used, there is always a Condorcet winner

Indicate whether the statement is true or false

A substantial increase in the price of oranges (a normal good) is likely to result from:

A) an increase in the amount of imported oranges. B) a prolonged freeze in Florida. C) a decline in buyers' incomes. D) a decrease in the public's demand for orange juice