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vodomira [7]
3 years ago
15

Coffee and tea are substitutes in consumption. If there is an increase in the price of coffee, assuming a positively sloped supp

ly curve and a negatively sloped demand curve, total surplus in the tea market _________.
Business
1 answer:
exis [7]3 years ago
5 0

Answer:

Will increase

Explanation:

Substitutes are the goods which have high elastic demand or positive cross elasticity of demand. An increase in price substantially affects the demand for a substitute good. For example, if tea and coffee are substitutes, an increase in the price of coffee will increase the demand for tea and the overall surplus in the team market.

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Capitalism is also called
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Answer:

Letter d is correct. <em>Responsiveness.</em>

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3 years ago
Sumitomo Bank's risk manager has estimated that its DEAR of two of its major assets in its trading portfolio, foreign exchange a
Andre45 [30]

Answer:

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