Asked by Blade McKee on Apr 25, 2024
In the local market for coffee,if Joyce's Java and Everyday Joe's coffee shops go out of business,the _____ curve shifts to the _____.
A) supply;right
B) demand;left
C) supply;left
D) demand;right
Local Market
A market in which goods and services are bought and sold within a specific geographic area, often reflecting the preferences and characteristics of the local population.
Supply Curve
The supply curve is a graphical representation showing the relationship between the price of a good and the quantity of the good that producers are willing and able to supply at various prices.
- Recognize the significance of the number of producers on the supply of goods.
Learning Objectives
- Recognize the significance of the number of producers on the supply of goods.