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Suppose that your friend owns a coffee shop and seeks your advice on changing the price of coffee to increase revenue. If you know that
Suppose that your friend owns a coffee shop and seeks your advice on changing the price of coffee to increase revenue. If you know that demand for coffee is relatively elastic, what advice will you give your friend?
A to decrease the price
B to increase the price
C to increase the price for a week and then to lower the price
D to decrease the price for a week and then to raise the price
E Wait until a republican president get elected in years.
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