Analysis of the coffee market, it was determined buyers willing to purchase 10 million pounds of coffee at a price of $9/lb and at a price of $4/lb they will buy 35 million pounds. The producer on the other hand are willing to provide 15 million pounds at $4/lb and 4 million pounds of coffee at $9/lb. I need to show these in a supply and Demand graph

Analysis of the coffee market, it was determined buyers willing to purchase 10 million pounds of coffee at a price of $9/lb and at a price of $4/lb they will buy 35 million pounds. The producer on the other hand are willing to provide 15 million pounds at $4/lb and 4 million pounds of coffee at $9/lb. I need to show these in a supply and Demand graph

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter7: Demand And Supply

Section: Chapter Questions

Problem 1AA

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Step 1: Defining Demand and Supply functions.

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Step 2: Finding the Demand Function.

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Step 3: Finding the supply function.

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Step 4: Corrected Supply Function

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Step 5: Plotting the demand and supply function

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