In a recent report it was said that there are health benefits to consuming coffee as it has anti-oxidants. Which of the following statements are true in the market for coffee? Select one: O a. The supply curve for coffee will shift outwards Ob. The demand curve for coffee will shift inwards O c. The demand curve for coffee will shift outwards O d. The supply curve for coffee will shift inwards

Q: c. How much total consumer surplus will each of them receive at a price of $32?

A: Last parts C and d are answered below:

Q: you find your opinion leaning towards traditional or behavioral economic beliefs?

A: Answer in step 2

Q: What examples do you have of goods and services that were once luxuries, which have become…

A: Luxury goods are those whose demand increases as people's income increases.

Q: What’s the invisible hand?

A: The concept of the invisible hand was introduced by Adam Smith in his 1759 book The Theory of Moral…

Q: Answers are A and B, D and E, E and F, F and H, or H and I

A: The indifference curve depicts the combination of two goods that derives the same level of utility…

Q: there is two answers, what is the other one?

A: Increasing the economy also raises the standard of living. The current standard of living must be…

Q: Why is the answer different to the answers for this question? The questions are all the same.

A: The questions are all not the same. Here is only one question. And rest are the option of the…

Q: What is the importance of studying economics? Give an example how it can help you.

A: Economics signifies a social science that analysis how individual agents in a society make their…

Q: What is the economic values?

A: (Q) What is the economic values?

Q: Why do business people study economics?

A: Demand for a good refers to the quantity of that good with the consumers are willing and able to…

Q: Discuss what markets are?

A: Meaning of Microeconomics: The term microeconomics refers to that situation under which the…

Q: Why is this answer different to the other answers for the same question?

A: Cournot model is an economic model wherein contending firms pick an amount to create freely and all…

Q: What is Reasonable Doubt?

A: Uncertainty/Doubt of ordinary convictions or a structure of thought can likewise open up new bits of…

Q: What roles do planning systems play?

A: The planning system is responsible for the administration, control, and regulation of development in…

Q: Much of modern economic thought believes people to be, generally speaking, rational and…

A: Almost all the major economic theories are based upon assumptions which are necessary to hold them…

Q: Goods that can be used to replace one another are called What?

A: Meaning of Microeconomics: The term macroeconomics refers to that situation under which the…

Q: Do you see the rise of consumer power through evolving changes in technology? If so, how?

A: Technology is all that make things quicker, easier or cheaper. The rise in the technology leads to a…

Q: Why studying economics is fun and why it is useful in personal level?

A: The study of how individuals, groups, and nations manage and use resources is at the heart of…

Q: On what are the Economic decisions based?

A: Economic decisions are the decisions made by the economic agents to pursue a goal and achieve a…

Q: How can economic changes affect society?

A: Economic changes can affect the society in various ways: 1. The cost of living has the significant…

Q: What type of economy is best?

A: There are mainly four types of economic systems: Traditional economic system, command economic…

Q: what does reading shakespeare or dostoevsky add to an economics student?

A: The book by David Hawkes titled Shakspeare and economics explains the economic thoughts that…

Q: what is economics

A: Answer to the question is as follows :

Q: what does reading shakespeare or dostoevsky add to an economics student?

A: Using the work of Shakespeare , traces of economic literary criticism to its cultural and historical…

Q: Explain the meaning of Philosophy

A: The study of general and fundamental problems such as existence, reason, knowledge, values, mind,…

Q: Does it shift outward or inward?

A: Budget constraints shows the relationship between the two goods , their prices and the income of the…