Multiple Choice
An increase in the price of Pepsi (a substitute for coffee)
A) raises the price of coffee and increases the quantity demanded of coffee.
B) raises the price of coffee and increases the quantity supplied of coffee.
C) lowers the price of coffee and decreases the quantity demanded of coffee.
D) lowers the price of coffee and decreases the quantity supplied of coffee.
E) causes none of the above.
Correct Answer:
Verified
Correct Answer:
Verified
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