The Price of Coffee Increases Because of Low Crop Yields

question 79

Multiple Choice

The price of coffee increases because of low crop yields.If the consumer's utility schedule for coffee remains constant,we can predict that coffee consumption

• A) will increase.
• B) will decrease.
• C) will stay the same.
• D) will increase if the marginal utility of coffee diminishes and will decrease if the marginal utility of coffee increases.
• E) might change, but we need more information to determine if it increased, decreased, or did not change.

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Definitions:

Communal Utopian Experiments

Social and economic endeavors in which communities attempted to create ideal societies with equitable distribution of resources.

The Shakers

A religious sect known for its unique practices of celibacy, communal living, and rhythmic dancing, as well as its craftsmanship and furniture design.

New Harmony

A historic town in Indiana, US, known for being the site of two attempts at utopian community living in the early 19th century.

William Lloyd Garrison

An American abolitionist writer and publisher who campaigned against slavery in the United States during the 19th century.