-What is the effect of an increase in the price of coffee?
A)It will lead to an increase in the demand for tea.
B)It will lead to a decrease in the demand for tea.
C)It will have no effect on the tea market.
D)It will increase the demand for coffee.

Question

-What is the effect of an increase in the price of coffee?
A)It will lead to an increase in the demand for tea. 
B)It will lead to a decrease in the demand for tea. 
C)It will have no effect on the tea market. 
D)It will increase the demand for coffee.

Quizplus · Accepted Answer

When the price of coffee increases, consumers may seek substitutes like tea, leading to an increase in the demand for tea.

-What Is the Effect of an Increase in the Price