grown in Columbia. In an effort to increase revenue from the sales of coffee beans, the government decides to raise the price above PO. Describe why it would take more effort for the government to raise the price to P2 than it would for it raise the price to P1. Price ($) P2 PA Quantity of Coffee Beans 4- Complete the tables below. Draw the market demand and supply curves on a graph and indicate the equilibrium price and quantity in the market. Label the equilibrium as E1 Price Consumer 1 Consumer 2 Consumer 3 Market $3 $3.50 20 25 Demand 19 30 22 $4 27 17 $4.50 21 15 26 $5 19 23 14 $5.50 18 12 22 16 20 Price Producer 1 $3 Producer 2 Producer 3 20 $3.50 13 Market Supply 25 14 $4 15 27 16 $4.50 18 19 30 $5 20 35 25 25 $5.50 32 45 30 40 Price Market Demand Market Supply Value of the Value of the $3 Shortage Surplus $3.50 $4