Business, 08.01.2021 17:10 SkyeShadow525

Suppose we are analyzing the market for coffee. For each of the events given below, state he demand curve and/or the supply curve would shift, provide reasons for the whether t shift, and indicate the effect on the equilibrium price and equilibrium quantity. (12 marks) a. The price of tea, a substitute for coffee, falls.
b. The price of coffee beans decreases
c. A better method of harvesting coffee beans is introduced.
d. Consumer income falls because of a recession, and coffee is considered a normal g
e. Farmers expect the price of coffee beans to increase next month.
f. Currently, the price of coffee is $2.50 per cup above equilibrium.

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Suppose we are analyzing the market for coffee. For each of the events given below, state he demand...

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