Question: [ 3 . 6 3 Points ] Research has shown that the relationship between the price of a cup of coffee, p in dollars, and
Points
Research has shown that the relationship between the price of a cup of coffee, in dollars, and the demand, in number of cups sold per day is
The Elasticity of Demand can be written as a formula
Where is the elasticity, is the unit price, and is the demand.
a Find the elasticity of demand formula for a cup of coffee.
b Use the elasticity of demand formula to fill out the following table.
tablePrice of cup of coffee,tableElasticity ofDemandThe price is Interpretation: If the price is increased by dots
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