Photo by Artem Beliaikin on Unsplash Production of boiler chickens (those raised for their meat, not eggs) in the US...
Survey level questions
Survey level questions
- Suppose that consumers suddenly choose to only buy “bird-friendly” coffee—that is, grown on coffee plantations that offer good habitats for birds, as certified by the Smithsonian Institute. Assume that bird friendly coffee is more expensive than regular coffee.
- How is that change in preferences likely to affect the equilibrium price of bird-friendly coffee?
- How is that change in preferences likely to affect the equilibrium quantity of regular coffee?
- Draw the supply and demand curves for the “drinks with straw” market. Suppose that paper straws cost more than plastic straws.
- Show how a nation-wide ban on plastic straws would shift the supply curve for soft drinks.
- How does the ban on plastic straws affect the equilibrium price and quantity in the “drinks with straws” market?