Illustrate the qualitative effect of the possible shocks

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Use supply-and-demand diagrams to illustrate the qualitative effect of the following possible shocks on the world coffee market:

-A new study shows significant health benefits from drinking coffee.

-An important new use for cocoa is discovered.

-A recession causes a decline in per capita income.

-A new coffee plant that allows for much greater output or yield without increasing cost is introduced into the market.

Reference no: EM133133582

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