It is likely that for most people:
A. coffee and non-dairy creamer are substitutes.
B. coffee and tea are substitutes.
C. coffee and coffee mugs are substitutes.
D. coffee and Coke are complements.
Answer: B
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The table below shows the weekly demand for hamburgers in a market where there are just three buyers.PriceQuantity Demanded by Buyer 1Quantity Demanded by Buyer 2Quantity Demanded by Buyer 3$6746597841510123211516Refer to the table. If the price of a hamburger decreases from $6 to $5, then the weekly market quantity demanded will
A. increase from 17 to 24. B. increase from 24 to 52. C. decrease from 24 to 17. D. decrease from 52 to 24.
Arnie's Airlines decides to offer different fares to different customers for the same tri
A) wants to convert consumer surplus to deadweight loss. B) wants to help some buyers with lower fares. C) has different costs for the same flight. D) wants to convert consumer surplus to economic profit. E) wants to convert producer surplus to consumer surplus.
When you buy a taco for breakfast, you are using money as a
A) store of value. B) standard of deferred payment. C) medium of exchange. D) unit of accounting.
To the corporation, bonds are riskier than stocks because
A. interest rates fluctuate. B. bond interest requires that firms make a fixed payment. C. investors prefer stocks to bonds. D. speculators manipulate bonds more than stocks.