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Use the Following Diagram to Answer the Following Questions

Question 17

Multiple Choice

Use the following diagram to answer the following questions.
Use the following diagram to answer the following questions. -Refer to Coffee. Suppose the demand for coffee increases from D₁ to D₂. The immediate effect would be to increase the demand price for Q₁ from: A) P₁ to P₂. B) P₁ to P<sub>3</sub>. C) P₂ to P<sub>3</sub>. D) P<sub>3</sub> to P₁.
-Refer to Coffee. Suppose the demand for coffee increases from D₁ to D₂. The immediate effect would be to increase the demand price for Q₁ from:


A) P₁ to P₂.
B) P₁ to P3.
C) P₂ to P3.
D) P3 to P₁.

Correct Answer:

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