2. Use supply and demand curves to illustrate the impact of the following events on the market...

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2. Use supply and demand curves to illustrate the impact of the following events on the market for coffee:

a) The price of tea goes up by 100 percent.

b) A study is released that links consumption of caffeine to the incidence of cancer.

c) A frost kills half of the Colombian coffee bean crop.

d) The price of styrofoam coffee cups goes up by 300 percent.

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Microeconomics

ISBN: 9780470563588

4th Edition

Authors: David Besanko, Ronald Braeutigam

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