Assuming Coffee and Cola Are Substitutes, If the Price of Coffee

question 411

Multiple Choice

Assuming coffee and cola are substitutes, if the price of coffee rises

• A)there is a movement along the demand curve for cola.
• B)the demand curve for coffee will shift to the right.
• C)the demand curve for cola will shift to the right.
• D)the demand curve for coffee will shift to the left.

Identify and discuss the reasons and implications of offshoring production activities.

Analyze the costs and effects of tariffs and quotas on international trade.

Examine the major imports and exports of the United States and their significance in global trade.

Discuss different production resource intensities and provide examples.

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Definitions:

Marginal Benefit

The supplementary enjoyment or value derived by a person upon consuming an extra unit of a particular good or service.

Marginal Cost

The cost of producing one additional unit of a good or service.

Marginal Benefit

Marginal benefit is the additional satisfaction or utility that a person receives from consuming an additional unit of a good or service.

Sushi Bar

A restaurant specializing in sushi, offering a variety of raw fish and seafood dishes, often served on a conveyer belt or prepared to order.