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Show the effect of each of the following events on the market for coffee by stating 1) if the equilibrium price went up, down, or stayed the same and 2) if the equilibrium quantity went up, down, or stayed the same. HINT – it is helpful to draw Demand/Supply diagrams to work these out.
a) A new study finds that coffee is good for the heart, reducing cholesterol if consumed daily.
b) The price of tea decreases substantially – assume that tea is a substitute for coffee.
c) Wages increase substantially in countries that grow coffee beans.
d) A fertilizer that increases the yield per acre of coffee beans is discovered.
e) A tropical storm destroys a large percentage of the Columbian coffee bean crop, a major source of coffee for the U.S. market.
If a product yields external benefits, then the:
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disposable personal income decrseases by$15 billion and the trade deficit is reduced by $5 billion. Explain by how much have investment, consumption and national income changed.
1.nbspnbspnbspnbspnbsp production possibility frontiers studying or socializing?nbspa. nbspdraw a production
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You sign a security agreement that describes the collateral. The bank does not file a financing statement. Has the banks security interest attached? If so, when?
Illustrate what is the short-run supply curve for each firm in the company. What is the short-run supply curve for the industry as a whole,Qs.
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