Multiple Choice
Use the figure below to answer the following questions.
Table 3.5.2
Demand and Supply Schedules for Cups of Coffee each day at CoolU
-Refer to Table 3.5.2.A premature frost destroys half the coffee trees and the supply of coffee is cut in half.The new equilibrium price is $________ and the new equilibrium quantity is ________ cups a day.
A) 1.30;600
B) 1.50;400
C) 0.90;400
D) 1.20;700
E) 1.30;500
Correct Answer:

Verified
Correct Answer:
Verified
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