1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
In-s [12.5K]
3 years ago
9

Determine how the equilibrium price and equilibrium quantity in the market for coffee changes if the price of tea, a substitute

for coffee, decreases, and due to better weather, the price of coffee beans also decreases. Equilibrium price Equilibrium quantity
Business
1 answer:
kkurt [141]3 years ago
5 0

Answer:

Equilibrium price = Decreases

Equilibrium quantity = Indeterminate

Explanation:

Here, we suppose that tea and coffee are substitute goods and we know that substitute goods have a positive cross price elasticity of demand.

So, if there is a fall in the price of tea then as a result the demand for coffee decreases which shifts the demand curve of coffee leftwards.

And, there is a fall in the price of coffee beans due to the better weather condition and coffee beans are used as an ingredient for producing coffee.

Hence, there is a fall in the cost of production of coffee which increases the supply of coffee and shifts the supply curve of coffee rightwards.

Therefore, there is a fall in the equilibrium price level of coffee and the effect of these shifts on the equilibrium quantity is indeterminate because that will be dependent upon the magnitude of the shifts of both the curves.

You might be interested in
Fiber-optic cable most likely would be used in a business network when (1 point) saving money is more important than speed. the
Papessa [141]
When electrical or magnetic interference is present
8 0
3 years ago
Mitchell has a cause: He loves cats. As an economist, he could earn $100,000 as a faculty member, but instead he decides to devo
Usimov [2.4K]

Answer: (e.) The same pay as either a professor or as a chief economist at the Humane Society.

Explanation:

The correct answer would be <u>option (e)</u> because in this case there lies an ambiguity i.e. we are uncertain about skillets that an economists should be endowed with or for being a faculty member.

Therefore , it can be concluded that he would  get at least as good pay as being faculty. In both cases he'll be better off.

8 0
3 years ago
The term "management" refers to the process of getting things done, effectively and efficiently, through and with other people.
galben [10]

Answer:

Management implies a conception and practice regarding power, administration and ways of building consensus and hegemony within an organization or institution. Management is the way to carry out the articulation between the perspectives, through the organizational modes that serve the same and that are consistent with the fines and objectives of the institution.

Explanation:

According to this, the management action crosses the entire institution, in its relationships, in internal coordination, in the ways of establishing work ties, working communities, in the set of options that are adopted when interacting with other institutions It is not just driving or direction. It is the coordination of work processes within the framework of an organization, where roles and tasks are given, which in principle can be articulated generating levels of management.

6 0
3 years ago
Today humans create as much information in _____ as we did from the beginning of civilization to the end of 2003. (1. 48 years (
Archy [21]

4. 48 Hours

We create at least 5 exabytes of data every 2 days. This is contributed by images, emails, social media, and all other internet content.

6 0
3 years ago
Read 2 more answers
How much do you expect gas to cost in 2020?
mina [271]
Atleast 5 dollars because of how there is a limited supply of gasoline today
4 0
2 years ago
Read 2 more answers
Other questions:
  • Bulluck Corporation makes a product with the following standard costs: Standard Quantity or HoursStandard Price or Rate Direct m
    7·1 answer
  • Chestnut Tree Farms has identified the following two mutually exclusive projects: Year Cash Flow (A) Cash Flow (B) 0 −$ 40,000 −
    5·1 answer
  • Last year, Ann had $10,000 to invest. She invested some of it in an account that paid 7% simple interest per year, and she inves
    5·1 answer
  • If the MPC is 0.8 and a component of AD, such as Investment, is increased by $5, then the maximum amount of change in income and
    8·1 answer
  • Jeffery and Cassie, who are married with modified AGI of $90,000, are sending their son to his first year of college. Their tota
    5·1 answer
  • The price a property will bring when neither the buyer nor the seller is acting under duress and it has been on the market for a
    12·1 answer
  • Why is it important that the whole organization works toward the strategic plan? How do the departments affect each other in rea
    13·1 answer
  • XYZ Company had 200,000 shares of common stock outstanding on December 31, 2020. On July 1, 2021, XYZ issued an additional 44,00
    5·1 answer
  • When gathering information, which of the following tasks might you need to
    8·1 answer
  • In the BCG Matrix, cash cows are: _____________
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!