Assume that for some reason the coffee price in the previous question is above the equilibrium price.

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Assume that for some reason the coffee price in the previous question is above the equilibrium price. What pressures would cause this market to tend toward equilibrium?

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Economics An Introduction To Traditional And Progressive Views

ISBN: 9780765616685

7th Edition

Authors: Howard J. Sherman, E. K. Hunt, Reynold F. Nesiba, Phillip A. O'Hara, Barbara A. Wiens-Tuers

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Question Posted: Nov 08, 2023 03:07 AM

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Assume that for some reason the coffee price in the previous question is above the equilibrium price.

Question:

Step by Step Answer:

When the price of coffee is above the equilibrium price it indicates that there is a surplus of coffee in the market that is the quantity supplied exc...View the full answer

Economics An Introduction To Traditional And Progressive Views

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