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18 Feb 2018
7) A technological change lowers the cost of producing coffee. At the same time, the prices of Pepsi and Coke (substitutes for coffee) rise. The equilibrium quantity of coffee will A) increase. B) remain the same. C) increase or decrease depending on whether the price of coffee rises or falls. D) increase or decrease depending on relative shifts of the demand and supply curves. E) decrease.
7) A technological change lowers the cost of producing coffee. At the same time, the prices of Pepsi and Coke (substitutes for coffee) rise. The equilibrium quantity of coffee will A) increase. B) remain the same. C) increase or decrease depending on whether the price of coffee rises or falls. D) increase or decrease depending on relative shifts of the demand and supply curves. E) decrease.
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