Business, 25.01.2020 07:31, kassandrarosario1115

(a) suppose there exists a market for coffee that is in equilibrium at 500 cups brewed per week for $3/cup. now suppose the demand for coffee shifts outward (to the right). what are some reasons this shift might have occurred?
(b) now suppose that after the demand curve shifted, the supply curve shifts inward (to the left). what are some reasons this might have occurred?
(c) now that both the demand and the supply curves have shifted, compare the new equilibrium to the original equilibrium of 500 cups for $3 each. are the new equilibrium price and quantity greater than, less than, or equal to the original equilibrium? do you have enough information to know for sure?

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(a) suppose there exists a market for coffee that is in equilibrium at 500 cups brewed per week for...