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If Tea and Coffee Are Substitutes, a Rise in the Price

question 101

True/False

If tea and coffee are substitutes, a rise in the price of tea will cause a rise in the demand for coffee.


Definitions:

Pleasure Principle

A concept in psychoanalytic theory referring to the drive toward immediate gratification of needs and desires.

Rationality

The quality of being based on or in accordance with reason or logic.

Logical

Relating to or involving clear, sound reasoning.

Personality

The characteristic set of behaviors, cognitions, and emotional patterns that evolve from biological and environmental factors.

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