Graph the following situation for the coffee market in Ethiopia: Initially at the first equilibrium P=$20 and Q=30 • Incomes increase • The price of fertilizer (input) for growing coffee increases Question: After the shifts what happened to equilibrium price and quantity in the coffee market? The equilibrium price increased, but we can't tell what happened to the equilibrium quantity because we aren't given any information about the relative size of the shifts in supply ard demand in the market. The equilibrium price decreased, but we can't tell what happened to the equilibrium quantity because we aren't given any information about the relative size of the shifts in supply and demand in the market. The equilibrium quantity decreased, but we can't tell what happened to the equilibrium price because we aren't given any information about the relative size of the shifts in supply and demand in the market. The equilibrium quantity increased, but we can't tell what happened to the equilibrium price because we aren't given any information about the relative size of the shifts in supply and demand in the market.

Graph the following situation for the coffee market in Ethiopia: Initially at the first equilibrium P=$20 and Q=30 • Incomes increase • The price of fertilizer (input) for growing coffee increases Question: After the shifts what happened to equilibrium price and quantity in the coffee market? The equilibrium price increased, but we can't tell what happened to the equilibrium quantity because we aren't given any information about the relative size of the shifts in supply ard demand in the market. The equilibrium price decreased, but we can't tell what happened to the equilibrium quantity because we aren't given any information about the relative size of the shifts in supply and demand in the market. The equilibrium quantity decreased, but we can't tell what happened to the equilibrium price because we aren't given any information about the relative size of the shifts in supply and demand in the market. The equilibrium quantity increased, but we can't tell what happened to the equilibrium price because we aren't given any information about the relative size of the shifts in supply and demand in the market.

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter4: The Market Forces Of Supply And Demand

Section: Chapter Questions

Problem 10PA

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