Consider the market for coffee beans. suppose that the prices of all other caffeinated beverages go up 30 percent while at the same time a new fertilizer boosts production at coffee plantations dramatically. which of the following best describes what is likely to happen to the equilibrium price and quantity of coffee beans? the equilibrium price may rise or fall but the equilibrium quantity will rise for certain. both the equilibrium price and the quantity will rise. the equilibrium price will rise but the equilibrium quantity will fall. neither the price change nor the quantity change can be determined for certain. none of the answers are correct.

At fenway park, home of the boston red sox, seating is limited to 38,000. hence, the number of tickets issued is fixed at that figure. the following graph shows the demand and supply for red sox tickets. use the graph input tool to you answer the following questions. you will not be graded on any changes you make to this graph. 0 38 76 100 90 80 70 60 50 40 30 20 10 0 price of tickets quantity of tickets (thousands) demand supply graph input tool market for tickets price 10 quantity demanded (thousands of tickets) 68 quantity supplied (thousands of tickets) 38 tax on buyers 0.00 seeing a golden opportunity to raise revenue, the city of boston levies a per ticket tax of $5 to be paid by the ticket buyer. boston sports fans, a famously civic-minded lot, send in the $5 per ticket. true or false: the entire tax burden falls on the team’s owners because supply is perfectly inelastic. true false