1. Using the demand and supply model for coffee beans to explain and illustrate, why the price of coffee has increased? In your answer, make reference to the news article along with the ebook.
2. Using the demand and supply model for a related good to coffee (substitute or complement) to explain and illustrate the impact it will have as a result of the market for coffee increasing in price?
3. Use the determinants of price elasticity of demand to analyse whether the demand for coffee islikely to be price elastic or inelastic
4. Given your answer to Q3, clearly explain and illustrate graphically what will happen to the total revenue of the coffee industry following the price increase for coffee