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be super accurate round to 2 decimal place!! You run a shop that sells everything connected with coffee. Currently, you sell 22 coffee makers per
be super accurate round to 2 decimal place!! You run a shop that sells everything connected with coffee. Currently, you sell 22 coffee makers per month, but you would like to increase this to 30. Knowing that coffee makers and coffee beans are complement goods, you have decided to stimulate demand for coffee makers by decreasing the price of coffee beans. Assuming the cross-price elasticity of demand for coffee makers is - 1.3, and the current price of coffee beans is $1.10, what should be the price of coffee beans to reach the increase in coffee makers demanded? Use the midpoint method and round to two decimal places throughout your calculations. Enter your answer in the box below. Answer Keypad
be super accurate round to 2 decimal place!!
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