Marginal Utility Theory Predicts That as the Price of Coffee

question 360

Multiple Choice

Marginal utility theory predicts that as the price of coffee rises, the ________ a substitute for coffee ________ and the ________ coffee ________.

• A) supply of; increases; demand for; decreases
• B) supply of; decreases; supply of; increases
• C) demand for; increases; quantity demanded of; decreases
• D) demand for; decreases; demand for; increases

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Definitions:

Distribution

The way in which something is shared or spread out over an area or among a population.

COV

The coefficient of variation, a measure of relative variability that describes the ratio of the standard deviation to the mean.

Independent Variables

Variables in an experiment that are manipulated or chosen by the researcher to investigate their effects on the dependent variable.

Coefficient Of Correlation

A statistical measure that calculates the strength and direction of a linear relationship between two quantitative variables.