Since so many people are requesting pumpkin spice lattes, more coffee shops are selling them this year. Hipsters everywhere quit buying pumpkin spice as it has now been deemed too "basic" and they "can't even." Coffee shops that used to sell cookies realize they can make more money selling pumpkin spice muffins. The economy is doing great. Unemployment is at its lowest point in fifty years! Now everyone can afford to get those expensive pumpkin spice lattes at Starbucks on their way to work. Number of Sellers 0 U Consumer Consumer Profit Income Taste U 0 > > 0 Opportunities 0 >

Since so many people are requesting pumpkin spice lattes, more coffee shops are selling them this year. Hipsters everywhere quit buying pumpkin spice as it has now been deemed too "basic" and they "can't even." Coffee shops that used to sell cookies realize they can make more money selling pumpkin spice muffins. The economy is doing great. Unemployment is at its lowest point in fifty years! Now everyone can afford to get those expensive pumpkin spice lattes at Starbucks on their way to work. Number of Sellers 0 U Consumer Consumer Profit Income Taste U 0 > > 0 Opportunities 0 >

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

For each scenario below, identify which determinant is playing a role in the Pumpkin Spice scenario

Since so many people are requesting
pumpkin spice lattes, more coffee shops
are selling them this year.
Hipsters everywhere quit buying pumpkin
spice as it has now been deemed too
"basic" and they "can't even."
Coffee shops that used to sell cookies
realize they can make more money selling
pumpkin spice muffins.
The economy is doing great.
Unemployment is at its lowest point in fifty
years! Now everyone can afford to
get those expensive pumpkin spice lattes
at Starbucks on their way to work.
Number of Consumer
Sellers
Income
0
✔
Consumer
Taste
>
Profit
Opportunities
✓
>

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