Use the Following Diagram to Answer the Following Questions

question 79

Multiple Choice

Use the following diagram to answer the following questions.

-Refer to Coffee. Suppose the demand for coffee increases from D₁ to D₂. If price did not change, we would expect:

• A) excess supply of Q₂ - Q₁ to develop.
• B) excess supply of Q₃ - Q₁ to develop.
• C) excess demand of Q₂ - Q₁ to develop.
• D) excess demand of Q₃ - Q₁ to develop.

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Definitions:

Industries

Industries are categories of businesses or organizations that share a common focus in the production or manufacturing of goods, provision of services, or exploration of technologies.

CPU

The Central Processing Unit is the main element of a computer, responsible for executing the majority of computational tasks within the system.

Parts

Components or elements that make up a larger machine, device, or product.

Works

Refers to the output or creations produced by effort, skill, or labor, including artistic, engineering, and literary compositions.