Question: Copy the supply and demand graph onto your notes. Then, using the data in the chart, draw a new supply curve on the graph. CUPS

Copy the supply and demand graph onto your notes. Then, using

Copy the supply and demand graph onto your notes. Then, using the data in the chart, draw a new supply curve on the graph. CUPS OF COFFEE $6 S $5 PRICE $3 $1 D 50 100 150 200 250 QUANTITY Price Quantity $1 100 $2 150 $3 200 $4 250 $5 300 Label the new equilibrium E1. What is the new equilibrium price? What is the new equilibrium quantity? Was this a result of a change in supply or quantity supply? Was this change an increase or a decrease? As a result, did the equilibrium price increase or decrease? As a result, did the equilibrium quantity increase or decrease

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