1. What do you think caused the large increase in the price of coffee in 1997? 2....

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1. What do you think caused the large increase in the price of coffee in 1997?

2. Use supply and demand diagrams to explain

(a) the fall in coffee prices in the late 1990s and early 2000s, and in the period 2015 to 2019;

(b) the increase in coffee prices from 2004 to 2011, in 2014 and 2016 and in 2021;

(c) the greater volatility in coffee prices in 2020.

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Essential Economics For Business

ISBN: 9781292728940

7th Edition

Authors: John Sloman, Elizabeth Jones

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