Business, 01.07.2021 02:50 Longjeremiahs5797

When Elle's Espresso Bar increased its price by 10 percent, the quantity of coffee that Elle sold decreased by 40 percent. When Elle and all her competitors cut their prices by 10 percent, the quantity of coffee sold by Elle increased by only 4 percent.
The price elasticity of demand for Elle's Espresso Bar coffee is
nothing.

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When Elle's Espresso Bar increased its price by 10 percent, the quantity of coffee that Elle sold...