Elucidate why does a starbucks coffeehouse face a downward

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Q. Elucidate why does a starbucks coffeehouse face a downward sloping demand curve, while a wheat farmer faces a horizontal demand curve?

Q. Describe the size of the market surplus or shortage that would exist at a price of (a) $40 (b) $20. Illustrate your answers on a graph.

Reference no: EM1349261

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