Tag: equilibrium price

Assume That Coffee And Tea Are Substitutes. When The Price Of Coffee Increases?

Reading Time: 4 minutes

Tea and coffee aren’t substitutes for one another, and also the cost of coffee has elevated considerably recently.

How are equilibrium price and quantity affected when income of the consumers a increase B decrease?

When earnings from the consumers increases, the equilibrium cost and quantity may also increase.

What are substitute goods for coffee?

Substitute goods for coffee may include tea, cacao, along with other hot drinks.

What causes expansion and contraction in demand?

Expansion and contraction sought after come from the alterations within the interest in an item. For instance, if there’s a rise in the interest in an item, then your cost from the product is going read more