There Is No True Substitute for Coffee

question 52

True/False

There is no true substitute for coffee. If the price goes from $8 to $12 for a package of k-cups due to a coffee bean shortage, demand will remain relatively unchanged. This is an example of demand elasticity.

---

Definitions:

Experience Prize

A reward or incentive that offers the recipient a unique or memorable experience rather than a tangible item.

Sweepstakes

A type of contest where prizes are awarded to winners chosen at random.

Triple Coupon Value

A promotional strategy in retail where the face value of coupons is tripled, offering customers significant savings on products.

Birds Eye

A brand known for its frozen food products, particularly vegetables, fish, and poultry.