In the market for coffee, the price has declined by 20% and at the same time the quantity sold has increased by 10%. What was the cause of these changed: an increase in supply an increase in demand a decrease in supply a decrease in demand
In the market for coffee, the price has declined by 20% and at the same time the quantity sold has increased by 10%. What was the cause of these changed: an increase in supply an increase in demand a decrease in supply a decrease in demand
Chapter3: Supply And Demand: Theory
Section3.3: The Market: Putting Supply And Demand Together
Problem 3ST
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In the market for coffee, the price has declined by 20% and at the same time the quantity sold has increased by 10%. What was the cause of these changed:
an increase in supply
an increase in demand
a decrease in supply
a decrease in demand
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