Question: Time left 0 : 1 6 : 5 5 The market for coffee is initially in equilibrium. Pepsi is a substitute for coffee; cream is

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The market for coffee is initially in equilibrium. Pepsi is a substitute for coffee; cream is a complement of coffee. Consider the market for coffee. Assume that all ceteris paribus assumptions continue to hold except for the following event.

An increase in the price of Pepsi will the equilibrium price and the equilibrium quantity of coffee.

Use the figure to answer the question

Time left 0 : 1 6 : 5 5 The market for coffee is

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