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There are two (2) main inputs in the production of lattes: coffee beans & workers in the coffee shop Workers need to make a decision
There are two (2) main inputs in the production of lattes: coffee beans & workers in the coffee shop
- Workers need to make a decision about how much time to spend working in the coffee shop vs. how much time to spend doing other things in life. What "factors" could affect the decision of a worker on how many hours of work they will do in a week?
- Suppose a drought strikes the major coffee bean growing region. Using graphics, describe the effect of the drought on the price and quantity of lattes...can you use substitutes?
- Explain how the production/marketing decisions made by a particular coffee shop differs under each of the four (4) market structures.
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