Business

Guest

6 February, 18:36

Andrew, a college student, loves drinking coffee late at night to study for exams. Having a small income, he is used to buying cheap, bad tasting coffee that he needs to grind and brew himself. The coffee tastes putrid but, with enough cream and sugar, Andrew is able to tolerate it. Occasionally, he does go out to Starbucks when he has spare money. After graduation, Andrew gets a job working at a database firm as a programmer. His income is now a healthy $75,000 a year and he decides he's had enough bad tasting coffee. He ends up buying coffee daily from Starbucks even though it costs significantly more than Beanlightened. in economic terms, Starbucks coffee is a (n) Seectanswer 3, Beanlightened coffee while is a (n) Andrew's demand for Starbucks coffee changed as a result of O a change in expectations. O a change in technology O a change in a related good or service. O a change in income O a change in the number of consumers