Assume that coffee and tea are substitutes. John and Pamela are vendors at MANCOSA campus. John sells tea and Pamela coffee. They usually sell these drinks at R15 per cup. However, it is a cold Monday morning and Pamela decides to decrease the price of coffee to R12 a cup. The resultant effect would be movement along the demand curve for coffee takes place since it is a change in the price of coffee. Select one: O True O False

Assume that coffee and tea are substitutes. John and Pamela are vendors at MANCOSA campus. John sells tea and Pamela coffee. They usually sell these drinks at R15 per cup. However, it is a cold Monday morning and Pamela decides to decrease the price of coffee to R12 a cup. The resultant effect would be movement along the demand curve for coffee takes place since it is a change in the price of coffee. Select one: O True O False

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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