Economics Assignment: Coffee Market and Monopoly Analysis

This economics assignment delves into the dynamics of the coffee market, analyzing the factors contributing to price fluctuations. It examines the impact of increased supply and demand, and the role of minimum price policies, supported by relevant diagrams and examples. The assignment further explores the concept of price elasticity of demand and its implications for food consumption. It contrasts the long-run equilibrium under perfect competition and monopoly, highlighting the differences in profit and market structure. Finally, the assignment discusses the effects of monopolies, providing examples of market manipulation and the need for government intervention to protect consumer interests and promote efficient resource allocation, referencing the Competition Commission of Mauritius and its findings on abusive practices within the telecom and water sectors.