ased on the information given in the following scenarios, graphically illustrate the following changes in the equilibrium price and/or equilibrium quantity: Note: You may use fictitious figures to motivate your answer. Your answer must include a discussion of the graph. The market for coffee has been relatively stable in the past. However, following a labour union strike among factory workers, the wage rate of factory workers in the coffee industry was renegotiated upwards (increased). At the same time, a study was published claiming significant health benefits coffee from drinking coffee daily. Therefore, coffee has become more attractive to consumers.

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