If Consumers View Cappuccinos and Lattés as Substitutes,what Would Happen

question 44

Multiple Choice

If consumers view cappuccinos and lattés as substitutes,what would happen to the equilibrium price and quantity of lattés if the price of cappuccinos rises?

• A)Both the equilibrium price and quantity would increase.
• B)Both the equilibrium price and quantity would decrease.
• C)The equilibrium price would increase,and the equilibrium quantity would decrease.
• D)The equilibrium price would decrease,and the equilibrium quantity would increase.

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Definitions:

Flexible Work Hours

Employment schedules that allow workers to vary their arrival and departure times, as well as sometimes where they work, to accommodate personal needs.

Progressive Discipline

A process for dealing with job-related behavior that does not meet expected and communicated performance standards, starting with a mild action and moving to stronger actions if necessary.

No-layoff Policies

Company strategies or commitments to avoid terminating employees' jobs, aiming to provide job security during economic downturns or organizational changes.

HR Practices

Strategies, policies, and practices implemented by the Human Resources department to manage and support the workforce effectively.