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The Market for Coffee Is Characterized by and

Question 5

Multiple Choice

The market for coffee is characterized by The market for coffee is characterized by and , where Q<sub>C</sub> is the quantity of coffee in hundreds of pounds, P<sub>C</sub> is the price per hundred pounds of coffee, and P<sub>T</sub> is the price per hundred pounds of tea. The market for tea is characterized by And , where Q<sub>T</sub> is the quantity of tea in hundreds of pounds. Suppose a new medical study touts the benefits of drinking coffee, leading to an increase of 30 pounds of coffee at every price. The new equilibrium price of tea is ____. A) $85.72 B) $87.25 C) $94.29 D) $99.42 and The market for coffee is characterized by and , where Q<sub>C</sub> is the quantity of coffee in hundreds of pounds, P<sub>C</sub> is the price per hundred pounds of coffee, and P<sub>T</sub> is the price per hundred pounds of tea. The market for tea is characterized by And , where Q<sub>T</sub> is the quantity of tea in hundreds of pounds. Suppose a new medical study touts the benefits of drinking coffee, leading to an increase of 30 pounds of coffee at every price. The new equilibrium price of tea is ____. A) $85.72 B) $87.25 C) $94.29 D) $99.42
, where QC is the quantity of coffee in hundreds of pounds, PC is the price per hundred pounds of coffee, and PT is the price per hundred pounds of tea. The market for tea is characterized by The market for coffee is characterized by and , where Q<sub>C</sub> is the quantity of coffee in hundreds of pounds, P<sub>C</sub> is the price per hundred pounds of coffee, and P<sub>T</sub> is the price per hundred pounds of tea. The market for tea is characterized by And , where Q<sub>T</sub> is the quantity of tea in hundreds of pounds. Suppose a new medical study touts the benefits of drinking coffee, leading to an increase of 30 pounds of coffee at every price. The new equilibrium price of tea is ____. A) $85.72 B) $87.25 C) $94.29 D) $99.42
And The market for coffee is characterized by and , where Q<sub>C</sub> is the quantity of coffee in hundreds of pounds, P<sub>C</sub> is the price per hundred pounds of coffee, and P<sub>T</sub> is the price per hundred pounds of tea. The market for tea is characterized by And , where Q<sub>T</sub> is the quantity of tea in hundreds of pounds. Suppose a new medical study touts the benefits of drinking coffee, leading to an increase of 30 pounds of coffee at every price. The new equilibrium price of tea is ____. A) $85.72 B) $87.25 C) $94.29 D) $99.42
, where QT is the quantity of tea in hundreds of pounds. Suppose a new medical study touts the benefits of drinking coffee, leading to an increase of 30 pounds of coffee at every price. The new equilibrium price of tea is ____.


A) $85.72
B) $87.25
C) $94.29
D) $99.42

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