Practice_Midterm_1

Coffeemarket30pointsyoumustanswerthisquestion

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Unformatted text preview: You
are
not
permitted
to
consult
any
other
 resource.
Use
of
calculators
is
permitted.

 You
have
75
minutes
for
the
exam,
and
the
exam
is
worth
75
points.
You
should
 use
the
points
allocated
to
each
question
as
a
rough
indication
of
how
much
time
 to
spend
answering
it.
 Good
luck!!
 
 HonorCode:
I
understand
that
the
honor
code
applies:

I
will
not
lie,
cheat,
or
steal
to
gain
 an
academic
advantage,
or
tolerate
those
who
do.

 
 
 _______________________________________
 Signature
 
 
 _______________________________________
 
Name
 
 
 QUESTION
1.
Coffee
market
[30
points]


‐

YOU
MUST
ANSWER
THIS
QUESTION
 
 The
graph
below
shows
the
global
market
for
unprocessed
coffee
beans.
It
shows
the
 world
price
and
the
quantity
of
beans
bought
for
each
qua...
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