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
Chapter4: Demand, Supply, And Market Equilibrium
Section: Chapter Questions
Problem 21P
Related questions
Question
1
Transcribed Image Text:structure.com/courses/2167967/quizzes/4 Q O
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
rces
く
government does not set the price at all. But there
is an increase in demand for cappuccino cotfee by 50
cups per week, ceteris paribus. 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?
O W $2.00 per cup: 310 cups per week.
O (BI $250 per cup 295 cups per week
O (I $3.00 per cup 290 cups per week
O IDI $350 per cup: 250 cups per week
O ) more than $3.50 per cup, more than 250 cupn per
week
MacBook Pro
000
FA
F2
F5
#3
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