Coffee marketplace meet all six conditions of a perfectly

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Reference no: EM1320331

Q1. Questions:
1. Is the marketplace for coffee perfectly competitive?

2. Does the coffee marketplace meet all six conditions of a perfectly competitive marketplace?

3. Which factor is not represented?

4. Do you buy the Starbuck's argument that paying higher coffee prices will increase demand also will ultimately increase the glut?

5. Are the coffee grower's operating at zero economic profit?

Q2. Using Okun's law Find out potential GDP if real GDP is 8100, natural unemployment rate is 5% also actual unemployment rate is 6%

Reference no: EM1320331

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