Develop a hypothetical table of information for coffee that shows quantity demanded at various prices and supply of coffee at these prices. Draw a demand curve and supply curve and show an equilibrium price at which market is cleared of its supplies.
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Explanation:
The law of demand states that there is an inverse relationship between price and quantity demanded. As price increases, quantity demanded decreases assuming all other factors that can affect demand
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Hope this will help you for your economics project.
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