julia has a coffee shop in san diego. she knows that when price is $4 , she sells 300 cups per week, and when she lowers the price to $3 she sells 350 cups per week. using the midpoint method, calculate the price elasticity of demand for julia's coffee. (3 point) show formula and all your calculations. is demand for julia's coffee elastic of inelastic? how do you know? explain. ( 3 point) based on your answer to section b if she raises the price by 10 %, what will happen to her total revenue? explain. (3 points).
