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Assume initially that demand and supply for premium coffees (one pound bag) are in equilibrium. Now assume Starbucks introduces the world to premium blends, and so demand rises substantially. Describe what will happen in this market as it moves to a new equilibrium. If a hard freeze eliminate Brazil's premium coffee crop, what will happen to the price of the premium coffee?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9281439

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