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Economics
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Assume that coffee and tea are substitutes. Given a downward sloping demand curve for tea, an increase in the price of era will cause ?

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Insha Fatima
Insha FatimaLv10
7 Oct 2020
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Related questions

7. Coffee and tea are substitutes. Good weather that sharply increases the coffee bean harvest would an increase consumer surplus in the market for coffee and decrease producer surplus in the market for tea. b. increase consumer surplus in the market for coffee and increase producer surplus in the market for tea. C. decrease consumer surplus in the market for coffee and increase producer surplus in the market for tea. d. decrease consumer surplus in the market for coffee and decrease producer surplus in the market for tea.

Use the following information to answer the next 4 questions. Coffee and tea are substitutes. Coffee and donuts are complements, but tea and donuts are not directly related. A severe drought in several coffee-producing countries has severely reduced the number of coffee plants in the world. 25. What effect will the drought have on the market for coffee? (a) Decrease demand. (b) Decrease supply. (c) Increase supply. (d) Increase demand.

If, as the price of tea increases, the quantity of coffee that people buy increases, then tea and coffee are OA. complements OB. normal goods OC. substitutes OD. inferior goods

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