A decrease in supply causes the price of coffee to fall

Q: coke and pepsi are substitute goods. if the price of coke skyrockets, then the demand for pepsi…

A: Two goods are said to be substitute goods when one good can be used in place of other. Price and…

Q: Select the change that would increase price and decrease quantity. (sketch the graphs if you need to…

A: Supply and demand, in economics, helps establish a relationship between the quantity of a commodity…

Q: If we observe an increase in the price of a good and an increase in the amount of the good bought…

A: If initially the demand curve is D and the supply curve is S, the equilibrium price and quantity are…

Q: buys 80 units of the good at a price of 20 per unit. How many units will the consumer buy when price…

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Q: People come to expect that the price of a gallon of gasoline will rise next week. As a result,A)…

A: One of the factors that affect the behavior of a producer and consumer is future expectations.…

Q: For consumers, computers are a complement to computer software. Suppose the price of a computer…

A: Products that are used or consumed combinedly are called complementary goods. Under this the…

Q: Which of the following would NOT decrease the demand for steak? A. a fall in the price of chicken (a…

A: Demand curve shows an inverse relationship between price and quantity demanded. It slopes downward.

Q: Which of the following increases the demand for a good or service? A) a rise in the price of a…

A: Increase in demand refers the situation when more quantity of a commodity is purchased at the same…

Q: Sales of bananas have dropped from 100,000 pounds to 75,000 pounds per day because a freeze resulted…

A: In a market, various factors are responsible for influencing the supply and demand of a product that…

Q: What is the effect on the equilibrium price of hotdogs and the equilibrium quantity of hotdogs sold…

A: 1. Price of substitute good rises which will increase the demand for hotdogs. Equilibrium price and…