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22 Jun 2018
11 The price of coffee beans, a normal good, increased by 10% from last year and the quantity of coffee beans purchased decreased by 2%. Which of the following explains these changes in price and quantity purchased? A. A recent scientific study that identified a connection between coffee consumption and throat cancer was highlighted in the news. B. Many new coffee producers entered the market C. There was a bad harvest of coffee beans. D. The price of cocoa increased and cocoa is a substitute for coffee. E. Consumers' incomes increased Bloomington, Inc. Price and Cost (Dollars) Demand MR 0 10 20 30 40 Quantity (units) 50
11 The price of coffee beans, a normal good, increased by 10% from last year and the quantity of coffee beans purchased decreased by 2%. Which of the following explains these changes in price and quantity purchased? A. A recent scientific study that identified a connection between coffee consumption and throat cancer was highlighted in the news. B. Many new coffee producers entered the market C. There was a bad harvest of coffee beans. D. The price of cocoa increased and cocoa is a substitute for coffee. E. Consumers' incomes increased Bloomington, Inc. Price and Cost (Dollars) Demand MR 0 10 20 30 40 Quantity (units) 50
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