Suppose we are analysing the market for café latte. Graphicallyillustrate the impact each of the…

Suppose we are analysing the market for café latte. Graphicallyillustrate the impact each of the following on demand or supply.Also show how equilibrium price and quantity would change. (a) Thehot season starts and the weather turns warmer. [5 marks] (b) Theprice of tea, a substitute for café latte, increases. [5 marks] (c)The price of coffee beans increases. [5 marks] (d) A better methodof harvesting coffee beans is introduced. [5 marks]

 

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