As a result,the initial effect of the freeze is a sharp increase in price,from Poto P1. (b)In the intermediate run,supply and demand are both more elastic;thus price falls part of the way back,to P2. (c)In the long run,supply is extremely elastic;because new coffee trees will have had time to mature,the effect of the freeze will have disappeared.Price returns to Po.As a result, the initial effect of the freeze is a sharp increase in price, from P0 to P1 . (b) In the intermediate run, supply and demand are both more elastic; thus price falls part of the way back, to P2 . (c) In the long run, supply is extremely elastic; because new coffee trees will have had time to mature, the effect of the freeze will have disappeared. Price returns to P0