Question: Suppose a severe blight causes a sharp reduction in the coffee harvest while demand for the beverage remains stable. Draw diagrams (properly labelled) to

Suppose a severe blight causes a sharp reduction in the coffee harvest

Suppose a severe blight causes a sharp reduction in the coffee harvest while demand for the beverage remains stable. Draw diagrams (properly labelled) to illustrate the following: The impact on the equilibrium price and quantity of coffee (using demand and supply curves) Draw diagrams to show the impact of the above development on the price and quantity of tea (using demand and supply curves in the tea market))

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