Which of the following most clearly illustrates the concept of "derived demand"?
A) An increase in the price of steak causes the demand for poultry to increase.
B) As the price of coffee increases, the quantity demanded for coffee declines.
C) A boom in the housing market leads to an increase in the demand for lumber and electricians.
D) An increase in beer advertising on television leads to an increase in per capita beer consumption.
Correct Answer:
Verified
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