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An economic analyst observes that over the summer, the average price of ice cream in a city increased by 10%, and the total quantity of ice cream sold also increased by 15%. The analyst concludes that for ice cream, an increase in price causes an increase in the quantity people want to buy. What is the most significant flaw in the analyst's reasoning?
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An economic analyst observes that over the summer, the average price of ice cream in a city increased by 10%, and the total quantity of ice cream sold also increased by 15%. The analyst concludes that for ice cream, an increase in price causes an increase in the quantity people want to buy. What is the most significant flaw in the analyst's reasoning?
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