The graph below shows the market for ground coffee Price per kilo 28 24 20 16 12 0 200 400 600 800 1000 2001 400 600 800000 Kilos per day 0 0 a) What would be the new equilibrium price if both the demand and supply of ground coffee increased by 400 kilos per day? b) What would be the new equilibrium price if both the demand and supply of ground coffee decreased by 400 kilos per day?

The graph below shows the market for ground coffee Price per kilo 28 24 20 16 12 0 200 400 600 800 1000 2001 400 600 800000 Kilos per day 0 0 a) What would be the new equilibrium price if both the demand and supply of ground coffee increased by 400 kilos per day? b) What would be the new equilibrium price if both the demand and supply of ground coffee decreased by 400 kilos per day?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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