Powers Williams
03/25/2023 · Elementary School

A television station reports that the price of coffee has increased but the quantity traded in the market has decreased. This situation would be caused by a(n) Multiple Choice increase in demand. decrease in supply.

UpStudy ThothAI Solution

Tutor-Verified Answer

Step-by-step Solution

The situation described, where the price of coffee has increased but the quantity traded in the market has decreased, would be caused by a **decrease in supply**. When supply decreases, the supply curve shifts to the left, leading to a higher equilibrium price and a lower equilibrium quantity. Therefore, the correct answer is: **decrease in supply.**

Quick Answer

decrease in supply
Answered by UpStudy AI and reviewed by a Professional Tutor
UpStudy ThothAI
Self-Developed and Ever-Improving
Thoth AI product is constantly being upgraded and optimized.
Covers All Major Subjects
Capable of handling homework in math, chemistry, biology, physics, and more.
Instant and Accurate
Provides immediate and precise solutions and guidance.
Try Now
Ask Tutors
Ask AI
10x
Fastest way to Get Answers & Solutions
By text

Enter your question here…

By image
Re-Upload
Uploaded Files
xxxx.png0%
Submit
📸 STUDY CAN BE A REAL STRUGGLE
Why Not UpStudy It?
Select your plan below
Premium

You can enjoy

  • Step-by-step explanations
  • 24/7 expert live tutors
  • Unlimited number of questions
  • No interruptions
  • Full access to answer and
    solution
  • Full Access to PDF Chat, UpStudy Chat, Browsing Chat
Basic
  • Limited Solutions