Question: Assume initially that Demand and supply for premium coffees (one pound-bags) are in equilibrium. Now assume Starbucks introduces the world to premium blends so Demand

Assume initially that Demand and supply for premium coffees (one pound-bags) are in equilibrium. Now assume Starbucks introduces the world to premium blends so Demand rises substantially. Describes what will happen in this market as it moves to a new equilibrium. If a hard breeze eliminates Brazil’s premium coffee corp, what will happen to the price of premium coffee?

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