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Scenario 3: |Combine parts 1 and 2. Suppose that the US. government reduces the tariff on imported coffee, and a reputable study is published indicating

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Scenario 3: |Combine parts 1 and 2. Suppose that the US. government reduces the tariff on imported coffee, and a reputable study is published indicating that coffee drinkers have lower rates of colon cancer. What will the combined impact be on the equilibrium price and quantity of coffee? Explain your reasoning and slim graphically. Make sure you think this through carefully

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