Final answer:
Setting can be both time and place.
Step-by-step explanation:
The statement that setting is either time or place, but not both, is FALSE. Setting in literature refers to the time and place in which a story takes place. It includes not only the physical location, but also the social, cultural, and historical context. For example, a setting can be the 18th century in London, which encompasses both a specific time and place.
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