Related to the Economics in Practice on page 69: Increased preference for coffee in China would most likely shift the demand curve for coffee to the ________ and lead to a(n) ________ in the price of coffee, ceteris paribus.

Question

Quizplus · Accepted Answer

An increased preference for coffee in China would shift the demand curve for coffee to the right as there would be an increase in the quantity demanded at each price level. This would lead to an increase in the price of coffee, ceteris paribus. Therefore, the correct answer is C, rightward shift in the demand curve and an increase in the price of coffee.

Related to the Economics in Practice on Page 69: Increased