What Will Happen to the Equilibrium Price and Quantity of Coffee

question 113

Multiple Choice

What will happen to the equilibrium price and quantity of coffee if it is discovered to help prevent colds and, at the same time, Brazil and Vietnam emerge in the global market as massive producers of coffee?

• A)The equilibrium price will rise and the effect on the equilibrium quantity is uncertain.
• B)The equilibrium price will fall and the effect on the equilibrium quantity is uncertain.
• C)The equilibrium quantity will increase and the effect on the equilibrium price is uncertain.
• D)The equilibrium quantity will increase and the equilibrium price will remain unchanged.
• E)The equilibrium quantity will decrease and the equilibrium price will rise.

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Definitions:

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A legal doctrine allowing a court with jurisdiction to dismiss a case if another more appropriate forum exists that would better serve the convenience of the parties and the ends of justice.

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A range of processes used to resolve conflicts or disputes without resorting to traditional court litigation, examples include mediation and arbitration.

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A non-criminal lawsuit in which one party sues another for the recovery of a private right or compensation for a wrong.