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Why is the price elasticity of demand for Starbucks greater than the price elasticity for coffee generally? (3 sentences)

User Sublucent
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Answer:

Price elasticity of demand for Starbucks greater than the price elasticity for coffee generally as demand for Starbucks changes to a greater extend as compare to demand for coffee with respect to change in price.

Step-by-step explanation:

The price elasticity of demand measures the change in the quantity demanded with respect to change in the price. Demand is said to be elastic if demand changes a lot as the price changes.

Price elasticity of demand for Starbucks greater than the price elasticity for coffee generally as demand for Starbucks changes to a greater extend as compare to demand for coffee with respect to change in price.

User Aelam
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