4. If the price of coffee decreases, the demand curve for tea (a substitute good

Question

4. If the price of coffee decreases, the demand curve for tea (a substitute good) will:
a. remain unchanged.
b. shift to the right.
c. shift to the left.
d. do none of the above

5. Which of the following will reduce the supply of motorcycles?
a. An increase in the population age 16 to 35, the primary consumers of motorcycles.
b. An increase in taxes imposed on motorcycle producers.
c. A technological improvement reducing the production costs of motorcycles.
d. A government study that reveals motorcycle riders, on average, live 10 years longer than
those who don't ride motorcycles.

Explanation / Answer

4. If the price of coffee decreases, the demand curve for tea (a substitute good) will: c. shift to the left. 5. Which of the following will reduce the supply of motorcycles? c. A technological improvement reducing the production costs of motorcycles.

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