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.A number of changes in the state of the world are listed below.For each, illustrate using a simple diagram, whether the demand curve for coffee
.A number of changes in the state of the world are listed below.For each, illustrate using a simple diagram, whether the demand curve for coffee shifts out, in, you slide along the curve, or it is impossible to tell how the demand curve is affected.
- Household income rises
- The price of tea falls
- The Surgeon General announces new evidence of a link between high coffee consumption and heart disease.
- The price of coffee falls.
- Consumers expect higher coffee prices next month.
- New "flavored coffee" is introduced, but some concerns are raised about health effects of the additives.
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