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Could you graphically illustrate how each of the following events, ceteris paribus , will affect the market for coffee. (Start new graph for each question.)
- Could you graphically illustrate how each of the following events, ceteris paribus, will affect the market for coffee. (Start new graph for each question.)
- Your diagrams must include initial and subsequent, prices, quantities, curves, equilibriums and related movements along a curve.
- The price of tea increases.
- Coffee workers organize themselves into a union and gain higher wages.
- Coffee is shown to cause cancer in laboratory rats.
- Coffee prices are expected to rise rapidly in the near future.
- Interest rates decrease.
- After completing your answers, you must scan or photograph your response(s) and convert them to a "pdf" file for upload in Canvas.
- Make sure to adjust and/or scale your scan/photograph so your intended answer(s) are legible, discernible and gradable.
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