Multiple Choice
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.
Correct Answer:
Verified
Correct Answer:
Verified
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