Use the Information Below to Answer the Following Questions

question 83

Multiple Choice

Use the information below to answer the following questions.
Fact 3.5.1
The market for coffee is initially in equilibrium.Pepsi is a substitute for coffee;cream is a complement of coffee.Consider the market for coffee.Assume that all ceteris paribus assumptions continue to hold except for the event listed.
-Refer to Fact 3.5.1.The price of cream falls.Simultaneously,there is an increase in the wages of farm workers who harvest coffee beans.The equilibrium quantity of coffee

• A)increases.
• B)decreases.
• C)remains the same.
• D)increases or decreases depending on the slope of the supply and demand curves.
• E)increases,decreases,or remains the same depending on the relative shifts of the supply and demand curves.

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Definitions:

Outgoing

Characterized by an extroverted, sociable, and enthusiastic behavior toward others.

Conventional

Adhering to accepted standards and norms; traditional or typical in style or behavior.

Openness

A personality trait that involves the appreciation for new experiences, creativity, and a willingness to explore novel ideas.

Self-rating

An evaluative process in which individuals assess their own performance, characteristics, or conditions.