1. In the figure, at a price of $9, with there be excess supply or excess demand? By how much? 10 5 LO Price ($)
1. In the figure, at a price of $9, with there be excess supply or excess demand? By how much? 10 5 LO Price ($) ONWAMONO D 0 1 2 3 4 5 6 7 8 9 10 Quantity 2. Consider the current demand curve for coffee. How would this demand curve be affected by an announcement that much of next year's coffee crop has been destroyed by a storm in Brazil? Explain
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