Question: just some help with this question Tim Hortons raises the price of its medium coffees from $1.75 each to $1.90. As a result, sales of

just some help with this question

Tim Hortons raises the price of its medium coffees from $1.75 each to $1.90. As a result, sales of coffee fall from 50 per day to 35 per day. Questions: (a) Calculate the price elasticity of demand for Tim Hortons coffee in the price range given. Please show your work'..(3 marks) (b) Is Tim Horton's coffee an elastic or inelastic good? Explain...(2 marks) (c) Suppose that a manager at Tim Horton's suggest increasing the price of medium coffees. Based on your calculations above, what effect would this have on total revenue (TR)? Please explain

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