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Help Submit Quiz This Question: 1 pt 11 of 13 (6 complete) This Quiz: 13 pts possible Consider the estimated demand function for coffee Q

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Submit Quiz This Question: 1 pt 11 of 13 (6 complete) This Quiz: 13 pts possible Consider the estimated demand function for coffee Q = 8.5 - p + 0.01Y, where Q is the quantity of coffee in millions of pounds per year, p is the price of coffee in dollars per pound, and Y is the average annual household income in high-income countries in dollars. Use algebra (or calculus) to show how the demand curve shifts as per capita income, Y, increases by $1,750 a year. Illustrate this shift in a diagram. p. $ per pound of coffee If per capita income, Y, increases by $1,750 a year, then the quantity of coffee demanded changes by |million pounds per year. (Enter your response rounded to one decimal place.) Consider the market for coffee illustrated in the figure to the right. Using the line drawing tool, graph a new market demand curve for coffee with the D1 increase in income. Label this line 'D2. Q, millions of pounds of coffee per year X Selected: Delete Clear ? none Click the graph, choose a tool in the palette and follow the instructions to create your graph

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