Assuming coffee and tea are substitutes, a rise in the price of coffee will have which of the following effects on the market for tea?
a. A movement up along the tea demand curve.
b. A movement down along the tea demand curve.
c. A leftward shift in the tea demand curve.
d. A rightward shift in the tea demand curve.
Question 2
Sugar and honey are viewed as substitutes for each other in many cooking applications. If the price of sugar rises, we would expect the:
a. demand for honey to increase.
b. demand for honey to decrease.
c. quantity demanded of honey to decrease.
d. price of honey to decrease.
e. quantity demanded of honey to increase.
The Rise of the Second American Party System, 1828
How to create a price index to calculate inflation for a basket of goods
Gliding Phoenix. Beginning position: Legs straight and together, arms at sides of body. 1. Rise up ...
Real Price of Oil, 1861–2010
An organizational specialist is hired as a consultant to a company planning to open a coffee ...