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Price in $ Quantity demanded (cups) Quantity supplied by vendor(cups) 0 14 2 1 12 3 2 10 4 3 8 5 4 6 6
Price in $ | Quantity demanded (cups) | Quantity supplied by vendor(cups) |
0 | 14 | 2 |
1 | 12 | 3 |
2 | 10 | 4 |
3 | 8 | 5 |
4 | 6 | 6 |
5 | 4 | 7 |
6 | 2 | 8 |
7 | 0 | 9 |
(Demand)
Qd= 14-2p
(Supply)
Qs= 2+p
(c): Suppose in 2018, CUD allowed the vendors to sale Tea on campus (Tea was not on sale in 2017). At the same time the price of coffee beans used to make coffee increased. How will these two is affect the demand for Coffee? Use a sketch of demand and supply to show how these two changes will affect the equilibrium price and quantity of coffee.
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