If the price of coffee rises relative to all other prices, consumers are likely to
A) buy more coffee.
B) buy more tea.
C) buy less coffee and less tea.
D) buy less tea.

Name: If the price of coffee rises relative to all other prices, consumers are likely to A) buy more coffee. B) buy more tea. C) buy less coffee and less tea. D) buy less tea.
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Question

Quizplus · Accepted Answer

When the price of coffee rises, consumers may substitute it with a relatively cheaper alternative, such as tea, leading to an increase in tea purchases.

If the Price of Coffee Rises Relative to All Other