Please help! The drop down list are the options to choose for the impact on supply, demand, price and quantity. Carefully explain what is happening in the market for a regular cup of coffee. Indicate the impact if any on demand, supply, price and quantity:A new study shows many great health benefits of tea.Impact on supplyImpact on demandImpact on priceImpact on quantityChoose...Choose...Increase towards equilibriumExcess demandShift outwards / to rightShift inwards / to leftDecrease towards equilibriumDecrease equilibrium priceChange in quantity uncertainIncrease equilibrium quantityChange in price uncertainDecrease equilibrium quantityExcess supplyIncrease equilibrium priceNo impact

The Equilibrium price is established where the demand and supply are equal. There is change in…

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Please help! The drop down list are the options to choose for the impact on supply, demand, pri

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter5: Elastic And Its Application

Section: Chapter Questions

Problem 10PA

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Please help! The drop down list are the options to choose for the impact on supply, demand, price and quantity.

Carefully explain what is happening in the market for a regular cup of coffee. Indicate the impact if any on demand, supply, price and quantity:
A new study shows many great health benefits of tea.
Impact on supply
Impact on demand
Impact on price
Impact on quantity
Choose...
Choose...
Increase towards equilibrium
Excess demand
Shift outwards / to right
Shift inwards / to left
Decrease towards equilibrium
Decrease equilibrium price
Change in quantity uncertain
Increase equilibrium quantity
Change in price uncertain
Decrease equilibrium quantity
Excess supply
Increase equilibrium price
No impact

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