Consider the market for tea. Which of the following scenarios would definitely result in an increase in the price of tea? O a. A new study is published explaining the benefits of tea, and at the same time a new technology allowing for more efficient tea farming is discovered. O b. The price of coffee falls, and at the same time a new technology allowing for more efficient tea farming is discovered. O c. Consumers expect the price of tea to fall in the future, and at the same time a fire wipes out a significant portion of tea farms. O d. The price of coffee falls, and at the same time the cost of labor to farm tea decreases. Oe. A new study is published explaining the benefits of tea, and at the same time a fire wipes out a significant portion of tea farms.
Consider the market for tea. Which of the following scenarios would definitely result in an increase in the
O a. A new study is published explaining the benefits of tea, and at the same time a new technology allowing for more efficient tea farming is discovered.
O b. The price of coffee falls, and at the same time a new technology allowing for more efficient tea farming is discovered.
O c. Consumers expect the price of tea to fall in the future, and at the same time a fire wipes out a significant portion of tea farms.
O d. The price of coffee falls, and at the same time the cost of labor to farm tea decreases.
Oe. A new study is published explaining the benefits of tea, and at the same time a fire wipes out a significant portion of tea farms.
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