The graph below depicts the market for tea. Price Multiple Choice O D3 O Quantity b Suppose the price of coffee increases (the two goods are substitutes in consumption). Which of the following statements shows the change in the market for tea? D₁ D₂ The demand curve will shift from D₁ to D₂. The demand curve will shift from D₁ to D3 There will be a change in the quantity demanded from Point a to Point b. A
The graph below depicts the market for tea. Price Multiple Choice O D3 O Quantity b Suppose the price of coffee increases (the two goods are substitutes in consumption). Which of the following statements shows the change in the market for tea? D₁ D₂ The demand curve will shift from D₁ to D₂. The demand curve will shift from D₁ to D3 There will be a change in the quantity demanded from Point a to Point b. A
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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The graph below depicts the market for tea. Suppose the
a) The
b) The demand curve will shift from D₁ to D3. c)There will be a change in the quantity demanded from Point a to Point b.
d) There will be a change in the demand from point b to point a
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