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Use the following to answer questions:
-(Table: Demand for Lenny's Coffee) Look at the table Demand for Lenny's Coffee. Lenny's Café is the only source of coffee for hundreds of miles in any direction. Lenny is selling two cups of coffee. If he lowers the price and sells three cups of coffee, the _____ effect will dominate the _____ effect, and total revenue will _____.
Buys
The act of acquiring goods or services in exchange for money.
Product
Any good, service, or idea that can be offered to a market to satisfy a want or need.
Majority
Majority refers to more than half of a particular group or quantity, often used to describe the greater part of a population or collection.
Population
Refers to the total number of people living in a particular area or country at a specific time.
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