Untitled.jpg Shifting Supply and Demand For the following…

Untitled.jpg Shifting Supply and Demand For the following examples, always start at E1. a. Coffee producers around the world have had a bad harvest due to climate change. What would be the most likely new equilibrium [BLANK-1]. Based on the previous answer, price would be [BLANK-2] and quantity would be [BLANK-3]. b. Assume that new medical benefits to drinking coffee have been discovered (and announced to the public), but as example (a) stated there was a bad harvest season for coffee producers around the world. Given these simultaneous events, the new equilibrium would most likely be [BLANK-4]. Based on this new equilibrium, the price would be [BLANK-5], and quantity [BLANK-6].