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Consider the following statement. Heavy rainfall has damaged coffee seed plantations used in coffee production, causing the supply of coffee beans to fall.This has resulted

Consider the following statement.

Heavy rainfall has damaged coffee seed plantations used in coffee production, causing the supply of coffee beans to fall.This has resulted in a 12% price increase for coffee.

Is this statement an example of microeconomics or macroeconomics?Briefly explain why.(2 marks)

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