The following table models the supply and demand of a specialty coffee: Price per Pound $8 $9 $10 $11 $12 Pounds Supplied (in thousands) Pounds Demanded (in thousands) 8 16 9 11 13 16 14 11 9 7 Over time, the demand for this specialty coffee ebbs as competing coffees enter the market. As a result, the demand curve shifts by five thousand pounds at all price points. By how much does the equilibrium quantity change? thousand pounds

Exploring Economics
8th Edition
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:Robert L. Sexton
Chapter4: Demand, Supply, And Market Equilibrium
Section: Chapter Questions
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The following table models the supply and demand of a specialty coffee:
Price per Pound
$8
$9
$10
$11
$12
Pounds Supplied (in thousands)
Pounds Demanded (in thousands)
8
16
9
11
14
11
13
9
16
7
Over time, the demand for this specialty coffee ebbs as competing coffees enter the market. As a result, the demand curve shifts by five thousand
pounds at all price points. By how much does the equilibrium quantity change?
thousand pounds
Transcribed Image Text:The following table models the supply and demand of a specialty coffee: Price per Pound $8 $9 $10 $11 $12 Pounds Supplied (in thousands) Pounds Demanded (in thousands) 8 16 9 11 14 11 13 9 16 7 Over time, the demand for this specialty coffee ebbs as competing coffees enter the market. As a result, the demand curve shifts by five thousand pounds at all price points. By how much does the equilibrium quantity change? thousand pounds
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