Please answer Questions 1 & 3.

Application Questions 1. Using the facts in the opening case, the discussion in the chapter; and demand and supply curves, show the impacts of the events in the case on the price and quantity of copper. Clearly disnguish between changes in demand and supply and changes in the quantity demanded and the quantity supplied 2. Using data sources from business publications and the Internet, discuss signicant trends in both demand and supply in the copper industry that have inuenced the price of copper since September 2011. What are the implications of these trends for managerial decision making in the copper industry? 3. According to leading coffee melchants, there will be a shortage in the global coffee market due to Bram'l's declining oolfee production in'201112l315."z Brazil is the world's largest producer of coffee beans. at Using demand and supply analysis, illustrate the eect of Brazil's declining coffee produc tion on the global coffee market in 2014. Show the shortage of coee beans in your graplL b. With the shortage, how would you expect the price of coffee beans to change in 2014'? c. Arabica coffee beans were being traded at seveneyear lows in November 20 13. If the demand for coffee beans decreases further in 2014, along with the change mentioned above, how would you expect the equilibrium price and quantity of Arabica coffee beans to change? Draw a graph to explain your