An Increase in the Price of Pepsi (A Substitute for Coffee)

question 111

Multiple Choice

An increase in the price of Pepsi (a substitute for coffee)

• A) raises the price of coffee and increases the quantity demanded of coffee.
• B) raises the price of coffee and increases the quantity supplied of coffee.
• C) lowers the price of coffee and decreases the quantity demanded of coffee.
• D) lowers the price of coffee and decreases the quantity supplied of coffee.
• E) causes none of the above.

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Definitions:

Holding Contacts

Electrical contacts in a relay or switch that maintain their state until altered by a specific action, used to hold circuits closed or open.

Energized

Describes an electrical component that is supplied with power and is capable of performing its function or operation.

Normally Open

A configuration in electrical contacts indicating the default state is non-conductive, closing to complete a circuit when activated.

Inhibit

To prevent or restrict a specific action or operation, often used in the context of controlling processes or reactions.