Question

what is the current prices and quantities for starbucks coffee? is the product currently above , below, or at equilibrium?

Answer 1

Starbucks coffee is a world-famous coffee brand that originated from the United States of America. Starbucks is known for its quality beverages and quality service around the world. People who can spend more dollars on a special coffee are like to go to Starbucks. People aged 21-45 are the key customers of Starbucks and it provides them the satisfaction after taking the coffee from Starbucks. There are various types of coffee in Starbucks which are vanilla coffee, freshly brewed coffee, iced tea, etc and are present in a large number of quantity as people prefer to come every day in large numbers to have a coffee of Starbucks around the world. Starbucks has increased the price of their coffee in the past few years and the reason behind it is that they are handling its operating cost which makes the product expensive. Moreover, Starbucks is known for its luxury brand and they set the price high then we comfortable will price because they know people are ready to pay more happily as in their customers mind Starbucks is known forex premium coffee and for having a premium coffee and for that they can charge a premium price as well. Various coffees of Starbucks prices have been raised around 10 to 20% and the main motive of the companies to sell their product at high prices and try to gain more profit.

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