What price would the total expenditure on coffee be largest

Reference no: EM13180473

Suppose the daily demand for coffee in Seattle is Q^d=100,000(3-P)^2

A. What is the elasticity of demand (Ed) at a price of $2.(Please show exactly which equation is needed to find Ed here)

B. At what price would the total expenditure on coffee be largest? (Is this based on the Ed found in A?)

Reference no: EM13180473

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