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Write the word or phrase that best completes each statement or answers the question.
-Coffee is best enjoyed at a temperature of . A restaurant owner wants to discover the temperature at which he should serve his coffee so that it will have cooled to this ideal temperature in 3 minutes. He discovers that a cup of coffee served at cools to in one minute when his restaurant is at . If he maintains the restaurant temperature at , at what temperature should he serve the coffee to meet his goal?
Equilibrium Quantity
The amount of goods or services supplied and demanded at the equilibrium price, where the quantity supplied equals the quantity demanded.
Demand Increases
A situation in which the quantity of a product or service that consumers are willing and able to buy at a specific price rises.
Price Restrictions
Regulations or limits placed on the price level for goods and services, often by a government to control inflation or protect consumers.
Excess Demand
A situation in an economic market where the quantity demanded of a good or service exceeds the quantity supplied at the current price.
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