Consider the market for coffee. For each of the following scenarios, what would happen to total revenue after the price increases? Place each scenario in the correct category. Items (5 items) (Drag and drop into the appropriate area below) Categories Increase Total Revenue OR Decrease Total Revenue  OR Cannot Determine Coffee drinkers say there is no substitute. Coffee drinkers decide to save their money for alcohol on Friday nights. Coffee drinkers discover a flavor of tea that tastes like coffee.  Leaf rust damages one-third of the world's coffee crop. Brazil has a drought.

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
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Consider the market for coffee. For each of the following scenarios, what would happen to total revenue after the price increases? Place each scenario in the correct category. Items (5 items) (Drag and drop into the appropriate area below) Categories Increase Total Revenue

OR Decrease Total Revenue

 OR Cannot Determine

Coffee drinkers say there is no substitute.

Coffee drinkers decide to save their money for alcohol on Friday nights.

Coffee drinkers discover a flavor of tea that tastes like coffee.

 Leaf rust damages one-third of the world's coffee crop.

Brazil has a drought.

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