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skad [1K]
3 years ago
11

Coffee and tea are substitutes. All else equal, what would happen to the equilibrium price and quantity of coffee if the wages o

f coffee-bean pickers fell and the price of tea fell?
Social Studies
1 answer:
UNO [17]3 years ago
6 0

Answer:

Price would fall and the effect on quantity would be ambiguous.

Explanation:

If the wages of coffee-bean picker fell, the price of coffee will also fall, though the effect on the quantity of coffee supply cannot be estimated.

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