In a recent report it was said that there are health benefits to consuming coffee as it has anti-oxidants. Which of the following statements are true in the market for coffee? Select one: a. The demand curve for coffee will shift outwards O b. The supply curve for coffee will shift outwards O c. The demand curve for coffee will shift inwards O d. The supply curve for coffee will shift inwards
In a recent report it was said that there are health benefits to consuming coffee as it has anti-oxidants. Which of the following statements are true in the market for coffee? Select one: a. The demand curve for coffee will shift outwards O b. The supply curve for coffee will shift outwards O c. The demand curve for coffee will shift inwards O d. The supply curve for coffee will shift inwards
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Step 1
Change in Demand and Supply occurs due to change in non price factors. An increase in demand or supply will shift the demand or supply curve towards right. Also, a decrease in demand or supply will shift the demand or supply curve towards left.
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