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i just wanna be sure I'm not wrong Question: Suppose we are analyzing the market for coffee at CUD campus for 2017. Croissant sandwich was

i just wanna be sure I'm not wrong

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Question: Suppose we are analyzing the market for coffee at CUD campus for 2017. Croissant sandwich was not on sale at CUD campus in 2017. The demand and supply schedules are described as follows: Price in $ Quantity Quantity demanded supplied by (cups) vendor(cups) 0 1200 0 1 1000 200 2 800 400 3 600 600 4 400 800 5 200 1000 6 0 1200 a) Sketch the demand and supply curves and identify the equilibrium price and quantity (2 marks). b) Using midpoint method compute the "own price elasticity\" when price of coffee increases from $2 to $3 and state if demand is elastic or inelastic over this portion. (3 marks) 0) Briefly explain how this price increase will affect total revenue (2 marks) d) Suppose in 2018 CUD allowed the sale of Croissant sandwich on CUD campus (other things constant) and the coffee seller finds that at price $2, the demand for coffee was only 900. Use midpoint nnnrnr-inh tn nnmnlite cross: nrirte elasticitu of demand {3 marks.)

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