^{Price($ per cup) Quantity demanded Quantity supplied}

^{$1 130 10}

^{$2 110 20}

$3 90 30

$4 70 40

$5 50 50

$6 30 60

$7 10 70

$8 0 80

1. If there is no tax on coffee, what is the price and how much coffee is consumed.?
2. What is the consumer surplus ? Show your calculations.
3. What is the price elasticity of demand when the price goes from $4 to $5? Is the demand for coffee elastic or inelastic? Explain