Suppose You Observe an Increase in the Equilibrium Price of Coffee

Multiple Choice

Suppose you observe an increase in the equilibrium price of coffee and a decrease in the equilibrium quantity of coffee. Of the options listed below, this is most consistent with:

A) a decrease in consumer income assuming coffee is a normal good.
B) an increase in the cost of producing coffee.
C) an increase in consumer income assuming coffee is a normal good.
D) a decrease in the cost of producing coffee.