What would happen to unit sales and total revenue

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1. If the elasticity of the demand for coffee is so low why doesn't Starbucks raise the price of coffee to $10 a cup?

2. What would happen to unit sales and total revenue for this textbook if the bookstore reduce it's price?

3. Is the demand for iphones price inelastic or elastic? Why? Is income elasticity high or low?

Reference no: EM13860053

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