If coffee is a substitute for tea, and the price of coffee rises, what will happen? A. Demand for tea will decrease. B. Demand for tea will increase. C. The quantity demanded of coffee will rise. D. The quantity demanded of tea will decrease.
Question:
If coffee is a substitute for tea, and the price of coffee rises, what will happen?
A. Demand for tea will decrease.
B. Demand for tea will increase.
C. The quantity demanded of coffee will rise.
D. The quantity demanded of tea will decrease.
Answers (1)
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Alyene April 15, 2023 в 08:59The correct answer is B. Demand for tea will increase. When the price of coffee rises, consumers will likely switch to tea as a substitute to save money. This means that demand for tea will increase as consumers want to purchase more of it. The rise in the price of coffee causes a shift in consumer behavior towards the cheaper substitute, which increases demand for tea. Therefore, option B is the correct answer.
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