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If consumers expect that the price of coffee will increase in the future, what will happen to equilibrium price and quantity of coffee now? a.

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If consumers expect that the price of coffee will increase in the future, what will happen to equilibrium price and quantity of coffee now? a. Price will decrease; quantity will decrease. b. Price will increase; quantity will increase. O c. Price will increase; quantity will decrease. O d. Price will decrease; quantity will increase. An increase in the number of tomato producers will a. increase market supply because the price of tomatoes will rise. b. increase market supply because market supply is the sum of all the individual tomato producers' supply curves. O c. increase market demand but leave market supply unchanged. O d. increase market supply because market demand will increase as more tomatoes are produced. If an increase in the price of coffee leads to an increase in the demand for tea, then coffee and tea are likely to be O a. Inferior Goods O b. Substitutes O c. Complements O d. Normal Goods

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