Question
the following data relates to the market for jars of coffee in the uk. price per jar demand (m) supply (m) .. on graph paper
the following data relates to the market for jars of coffee in the uk. price per jar demand (m) supply (m) .. on graph paper plot the d and s curves, and mark on current market equilibrium price and quantity. (make sure the diagram scales are correct and large enough to work with). 2. explain and show what would happen if the jars were priced at 3 each. 3. explain and show what would happen if the jars were priced at 1.50 each. 4. explain the likely effects of a rise in the price of tea, which increases demand for coffee by 15m jars at each and every price. 5. sixth months later there is a very bad frost in brazil which reduces the amount of coffee beans available, and this reduces the number of jars that can be produced by 20m jars at each and every price. explain the likely effects of this frost in brazil on the price of jars of coffee in the uk. 6. assume the original demand and supply - show the likely effects of a tax on coffee of 2 per jar.
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