Multiple Choice
Which of the following will not increase the demand for iced tea?
A) an increase in advertising that makes drinking iced tea more appealing
B) an increase in the price of iced coffee, a substitute product
C) an increase in the income of consumers (assume that iced tea is a normal good)
D) a decrease in the price of iced tea
Correct Answer:
Verified
Correct Answer:
Verified
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