Explain how each of the following events will influence the demand or supply of coffee, and predict the change in equilibrium price and equilibrium quantity.
a. A major health study implicates coffee as a prime source of cholesterol that contributes to heart disease.
b. A new breed of coffee is developed that is resistant to diseases and is high yielding per stem.
c. Personal disposable income of consumers decrease.
d. Canada and US start buying much more coffee.
e. Land used for coffee is now used for growing corn.