If a Person Only Occasionally Buys a Cup of Coffee,his

question 160

Multiple Choice

If a person only occasionally buys a cup of coffee,his demand for coffee is probably

• A)represented by a vertical or nearly-vertical demand curve.
• B)not easily represented by a demand schedule or demand curve.
• C)inelastic.
• D)elastic.

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Definitions:

U.S. Dollar

The official currency of the United States, widely used as a standard of value and medium of exchange in international trade.

Euro

The official currency used by 19 of the 27 European Union countries, also known as the eurozone.

Current Ratio

A liquidity ratio that measures a company's ability to pay short-term obligations using its current assets.

Current Assets

Assets that are expected to be converted into cash, sold, or consumed within a year's time, including cash, inventory, and receivables.