Discuss, and illustrate with a graph, how each of the following events will affect the market for

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Discuss, and illustrate with a graph, how each of the following events will affect the market for coffee:

a. A blight on coffee plants kills off much of the Brazilian crop.

b. The price of tea declines.

c. Coffee workers organize themselves into a union and gain higher wages.

d. Coffee is shown to cause cancer in laboratory rats.

e. Coffee prices are expected to rise rapidly in the near future.

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Macroeconomics Principles and Applications

ISBN: 978-1133265238

5th edition

Authors: Robert e. hall, marc Lieberman

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Question Posted: Dec 11, 2012 12:17 AM

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Discuss, and illustrate with a graph, how each of the following events will affect the market for

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a b Since the price of a substitute has fallen demand for coffee should decrease Demand decreases fr...View the full answer

Macroeconomics Principles and Applications

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