Question 25 (10 points) A perfectly competitive coffee industry is in long-run equilibrium. Assume that all coffee producers have the same cost curves. a) What is the equilibrium price of coffee in relation to the average total cost curve faced by each of the suppliers of coffee? Now suppose that scientific research shows that coffee causes people to develop heart problems. b) Describe the short-run impact of the news on the price and output of coffee. c) What will happen to the number of coffee producers in the long run, assuming that consumers continue to believe the research? d) Compare price and output in this industry after long-run adjustment to price and output at the start of the