QUESTION 14 If two goods are substitutes, then a(n) A increase in the demand for one of them will cause its price to fall B. increase the supply of one of them will cause its price to rise C. increase in the price of one of them will cause the demand for the other to increase D. increase in the price of one of them will cause the supply of the other to increase decrease in the price of one of them will cause the demand for the other to increase QUESTION 15 If the supply of coffee falls due to bad weather conditions in coffee-exporting countries, then the A price and quantity will rise B. price and quantity will fall C. price will fall and quantity will rise OD. price will rise and quantity will fall O E. quantity will fall, but price may rise or fall

QUESTION 14 If two goods are substitutes, then a(n) A increase in the demand for one of them will cause its price to fall B. increase the supply of one of them will cause its price to rise C. increase in the price of one of them will cause the demand for the other to increase D. increase in the price of one of them will cause the supply of the other to increase decrease in the price of one of them will cause the demand for the other to increase QUESTION 15 If the supply of coffee falls due to bad weather conditions in coffee-exporting countries, then the A price and quantity will rise B. price and quantity will fall C. price will fall and quantity will rise OD. price will rise and quantity will fall O E. quantity will fall, but price may rise or fall

Principles of Microeconomics

7th Edition

ISBN:9781305156050

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter5: Elastic And Its Application

Section: Chapter Questions

Problem 6PA: Suppose that your demand schedule for DVDs is as follows: Price Quantity Demanded (income = 10,000)...

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