What would happen to the equilibrium price and quantity of coffee if the wages of coffee-bean pickers fell and the price of tea fell?
a. Price would fall, and the effect on quantity would be ambiguous.
b. Price would rise, and the effect on quantity would be ambiguous.
c. Quantity would fall, and the effect on price would be ambiguous.
d. Quantity would rise, and the effect on price would be ambiguous.
a
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Use the data in the table below to answer the following question.PriceQuantity Demanded$201218171620142412301036840644448The price elasticity of demand (based on the midpoint formula) when price decreases from $12 to $10 is
A. -1.37. B. -0.33. C. -1. D. -3.29.
Which of the following is fixed on a coupon bond?
A) coupon rate B) current yield C) market price D) yield to maturity
Experiments:
A. make it easier to determine whether people's choices are consistent with standard economic theory, but can make it harder to establish causality. B. often make it easier to establish causality, but can make it harder to determine whether people's choices are consistent with standard economic theory. C. make it easier both to establish causality and to determine whether people's choices are consistent with standard economic theory. D. make it harder both to establish causality and to determine whether people's choices are consistent with standard economic theory.
The price elastic portion of the linear demand curve lies:
a. b and c. b. above the point of unit elasticity. c. anywhere to the left of current market prices. d. below the point where total revenue is maximized. e. at the intersection with the supply curve.