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QUESTION
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.
