Homework Answers
In the diagram below we have prices on the Y-axis and quantity on the X-axis and the initial demand curve for Starbucks coffee is given by DD line and the demand curve is typical downwards sloping suggesting that increase in the price will reduce the quantity demanded which is nothing but the law of demand.
Now the taste of Starbucks coffee changes but it didn't improve the taste instead it was worse. So the impact of this on demand for Starbucks coffee will be such that people will now demand less of starcuks coffee due to worsening of its taste. This is shown by the left wards shift in the demand curve. The new demand curve is shown by the DD'. The negative or left wards shift in the demand curve is due to tha fact that people who used to buy Starbucks coffee previously are not likely to buy it anymore due to the worsening of its taste.
Note: we are at HomeworkLib are only suppose to do one question at most when there are many questions posted at once, besides this the second scenario is reffering to some particular diagram which is not given so I request you to post second question again with appropriate diagram.
I hope I was able to help, thank you.
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