No matter what the price of coffee is in the cafeteria, Jack spends $20 a week on
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Question:
No matter what the price of coffee is in the cafeteria, Jack spends $20 a week on coffee.We can conclude that the absolute value of the price elasticity of demand for coffee for Jack is
greater than 1.
equal to 1.
less than 1.
equal to 0.
Expert Answer:
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