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Peet Coffee's marketing department estimates the price elasticity of demand for its coffee at its downtown location during weekday morning hours at current prices
Peet Coffee's marketing department estimates the price elasticity of demand for its coffee at its downtown location during weekday morning hours at current prices to be -1.75. At this location, Peet Coffee currently sells 3200 cups of coffee per month during those morning hours at a price of $4.50 per cup. Can you provide an estimate of Peet's morning demand curve?
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Managerial Economics Theory Applications and Cases
Authors: Bruce Allen, Keith Weigelt, Neil A. Doherty, Edwin Mansfield
8th edition
978-0393124491, 393124495, 978-0039391277, 393912779, 978-0393912777
