Supply of coffee beans has increased

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Reference no: EM131204078

Suppose that coffee growers sell 200 million pounds of coffee beans at $2 per pound in 2007, and sell 240 million pounds for $3 per pound in 2008. Based on this information we can conclude that the:

law of demand has been violated.

supply of coffee beans has increased.

law of supply has been violated.

demand for coffee beans has increased.

Reference no: EM131204078

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