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3. In the article Coffee Cravers ignoring Bean-Price Surge for Caffeine Fix, Marvin Perez and Lynn Doan quote a chief international strategist, Paul Christopher, where

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3. In the article "Coffee Cravers ignoring Bean-Price Surge for Caffeine Fix", Marvin Perez and Lynn Doan quote a chief international strategist, Paul Christopher, where he says, There's a very low price elasticity-of-demand for coffee . Based on the statement, is the demand for coffee price elastic or inelastic? (2 marks) low price elasticity-of-demand = - 1

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