Economy, asked by mamtakumarigomia900, 2 months ago

How will a change in price of coffee affect the equilibrium price of tea ?
Explain the effect on equilibrium quantity also through a diagram.

plz explain in English...
plz koi to answer bata do with explanation

Answers

Answered by Anonymous
0

Answer:

A change in price of coffee will directly influence the equilibrium price and quantity of teaas coffee is a substitute of tea. Anincrease in price of coffee will maketea relatively cheaper and demand for tea will rise.

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