Atlantic Coffee has recently decided to raise its prices by10%. It was shocked by itscustomers’ reaction to the price increase when sales…
Atlantic Coffee has recently decided to raise its prices by10%. It was shocked by itscustomers’ reaction to the price increase when sales dropped24%.Such a sharp drop in sales occurred because
A.
Atlantic Coffeedoesn’t taste as good as Pacific Coffee.
B.
Atlantic Coffee has changed to a new type of bean.
C.
the demand for a specific brand of coffee is highly elastic.
D.
the demand for coffee as a commodity is highly inelastic.
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