Directions: For questions 29-31, imagine there are only two producers of coffee Cool Beans Coffee Roasters and Aroma Mocha Coffee. For each question, draw on the graph provided what will happen under the given circumstances. For example, will the curve shift left or right? 29 Aroma Mocha announces a sale on all lattes. What will happen to the demand for Cool Beans Coffee? Label this curve D1 30 Studies show that coffee increases energy levels and can make you smarter What will happen to the demand for all coffee? Label this curve D2. 31 The price for Matcha Tea skyrockets How will this impact the demand for coffee? Label this curve D3 D.

Directions: For questions 29-31, imagine there are only two producers of coffee Cool Beans Coffee Roasters and Aroma Mocha Coffee. For each question, draw on the graph provided what will happen under the given circumstances. For example, will the curve shift left or right? 29 Aroma Mocha announces a sale on all lattes. What will happen to the demand for Cool Beans Coffee? Label this curve D1 30 Studies show that coffee increases energy levels and can make you smarter What will happen to the demand for all coffee? Label this curve D2. 31 The price for Matcha Tea skyrockets How will this impact the demand for coffee? Label this curve D3 D.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter7: Production, Costs, And Industry Structure

Section: Chapter Questions

Problem 4SCQ: Based on your answers to the WipeOut Ski Company in Exercise 7.3, now imagine a situation where the...

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