Asked by
Sukhdyal singh
on Oct 12, 2024Verified
Assuming Coors and Budweiser are substitutes,an increase in the price of Coors is likely to cause
A) a decrease in the demand for Coors.
B) a decrease in the demand for Budweiser.
C) an increase in the demand for Budweiser.
D) an increase in the demand for Coors.
Substitutes
Goods or services that can be used in place of each other, with the capability of satisfying similar consumer needs or desires.
Coors
A well-known brewing company based in Golden, Colorado that produces a wide range of beers.
Budweiser
A popular American beer brand known for its lager.
- Comprehend the principle of substitutes and complements in influencing demand.
Verified Answer
GY
Learning Objectives
- Comprehend the principle of substitutes and complements in influencing demand.