Question 9
Theory of DemandThe demand for coffee and tea is
- A.joint.
- B.competitive.
- C.composite.
- D.derived.
Show the answer and explanation
Answer: B (competitive.)
Explanation
Coffee and tea are substitutes, so their demand is competitive.
The demand for coffee and tea is
Answer: B (competitive.)
Coffee and tea are substitutes, so their demand is competitive.