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Use supply and demand curves to illustrate the impact of the following events on the market for coffee: a. The price of tea goes up
Use supply and demand curves to illustrate the impact of the following events on the market for coffee: a. The price of tea goes up by 100 percent. b. A study is released that links consumption of caffeine to the incidence of cancer. c. A frost kills half of the Colombian coffee bean crop. d. The price of Styrofoam coffee cups goes up by 300 percent.
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