Quantity (cups/hour) The figure above refers to the market for coffee. What might cause shift from the original supply curve to the new supply curve? Check all that apply. An increase in the price of tea (a substitute for coffee). An expectation that coffee prices will fall in the future. A decrease in the price of coffee beans. A storm in that wipes out a large part of the coffee crop. A new technology that reduces the cost of making coffee.
Quantity (cups/hour) The figure above refers to the market for coffee. What might cause shift from the original supply curve to the new supply curve? Check all that apply. An increase in the price of tea (a substitute for coffee). An expectation that coffee prices will fall in the future. A decrease in the price of coffee beans. A storm in that wipes out a large part of the coffee crop. A new technology that reduces the cost of making coffee.
Chapter5: Price Elasticity Of Demand And Supply
Section: Chapter Questions
Problem 17SQ
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Question
Transcribed Image Text:Price ($/cup)
3.5
3
88
2.5
2
1.5
1
0.5
0
10 20
Original Supply
New Supply
New Demand
Original Demand
30 40 50 60 70 80 90
Quantity (cups/hour)
The figure above refers to the market for coffee. What might cause shift from the original supply
curve to the new supply curve? Check all that apply.
An increase in the price of tea (a substitute for coffee).
An expectation that coffee prices will fall in the future.
A decrease in the price of coffee beans.
A storm in that wipes out a large part of the coffee crop.
A new technology that reduces the cost of making coffee.
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