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1. Identify and explain the type of price elasticity of demand of Starbucks Coffee with the aid of the diagram (10) 2. ''Starbucks is measured
1. Identify and explain the type of price elasticity of demand of Starbucks Coffee with the aid of the diagram (10)
2. ''Starbucks is measured on luxury goods both high quality and high price''
With reference to the text above and the concept of income elasticity, draw a diagram and explain what would to the demand for Starbucks Coffee as income increases. (10)
3. With the aid of a diagram identify and explain the determinants of supply that would results in an increase and decrease in supply of Starbucks Coffee (10)
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