Question: Develop a hypothetical table of information for coffee that shows quantity demanded at various prices and supply of coffee at these prices. Draw a demand curve and supply curve and show an equilibrium price at which market is cleared of its supplies.
So how to do this project? Here’s what you can cover in your project:
Write Introduction
In Main Body, write definitions of Demand and supply.
Explain demand curve. Explain why it shifts.
Make a table showing Price of Coffee (Rs.) and Quantity Demanded (in Kg). Choose data such that the quantity increases as the price decreases.
Plot the demand curve for Coffee.
Explain Supply curve. Explain why it shifts.
Make a table showing Price of Coffee (Rs) and Quantity supplied (in Kg). Choose data such that the quantity supplied increases as the price increases.
Plot the demand curve for Coffee.
Explain about Market equilibrium
Plot the graph to show equilibrium point.
Write Conclusion.
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