The same table from Question #27 is reproduced below, which shows the demand and supply schedules in the market for cappuccino coffee Quantity Quantity Price Demanded Supplied (per 12 oz. (cups per (cups per cup) week week) $2.00 260 200 $2.50 245 220 $3.00 240 240 $3.50 200 250 $4.00 160 260 $4.50 130 280 $5.00 100 300 In the market for cappuccino coffee, suppose the government does not set the price at all. But there is an increase in demand for cappuccino coffee by 50 cups per week, ceteris poribus. That is, at each and every price, the demand goes up by 50 cups per week, ceteris paribus. What will be the new equilibrium price and quantity? OW 1200 per cup 310 cups per week. O BI $250 per cu 295 cups per week O IC $3.00 per cup 290 cups per week O IDI $3.50 per cup 250 cups per week OD more than $3.50 per cup more than 250 cun per week

The same table from Question #27 is reproduced below, which shows the demand and supply schedules in the market for cappuccino coffee Quantity Quantity Price Demanded Supplied (per 12 oz. (cups per (cups per cup) week week) $2.00 260 200 $2.50 245 220 $3.00 240 240 $3.50 200 250 $4.00 160 260 $4.50 130 280 $5.00 100 300 In the market for cappuccino coffee, suppose the government does not set the price at all. But there is an increase in demand for cappuccino coffee by 50 cups per week, ceteris poribus. That is, at each and every price, the demand goes up by 50 cups per week, ceteris paribus. What will be the new equilibrium price and quantity? OW 1200 per cup 310 cups per week. O BI $250 per cu 295 cups per week O IC $3.00 per cup 290 cups per week O IDI $3.50 per cup 250 cups per week OD more than $3.50 per cup more than 250 cun per week

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter14: Monopoly

Section: Chapter Questions

Problem 14.13P

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