What Would Happen to the Equilibrium Price and Quantity of Lattés

question 84

Multiple Choice

What would happen to the equilibrium price and quantity of lattés if coffee shops began using a machine that reduced the amount of labor necessary to produce steamed milk,which is used to make lattés,and scientists discovered that lattés cause heart attacks?

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

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Definitions:

Product Knowledge

An understanding of a product's features, benefits, and uses, which is crucial for effective sales and marketing.

Extended Problem Solving

A consumer behavior process used in situations involving high risk and extensive evaluation before making a purchase decision.

Physical Surroundings

The tangible environment in which an individual or operation exists, including all physical spaces and objects within those spaces.

Situational Influences

External factors that can impact consumer behavior, including physical surroundings, social interactions, time factors, and purchase reason.