When​ Elle's Espresso Bar raised its prices by 10​ percent, the quantity of coffee that​ Elle's sold fell by 40 percent. When​ Elle's and its competitors cut their prices by 10​ percent, the quantity of coffee sold by​ Elle's increased by only 4 percent.   Calculate the price elasticity of demand for​ Elle's coffee and the price elasticity of demand for coffee.   The price elasticity of demand for​ Elle's Espresso Bar coffee is

Microeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506893
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
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Chapter7: Consumer Choice And Elasticity
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When​ Elle's Espresso Bar raised its prices by 10​ percent, the quantity of coffee that​ Elle's sold fell by 40 percent. When​ Elle's and its competitors cut their prices by 10​ percent, the quantity of coffee sold by​ Elle's increased by only 4 percent.
 
Calculate the price elasticity of demand for​ Elle's coffee and the price elasticity of demand for coffee.
 
The price elasticity of demand for​ Elle's Espresso Bar coffee is
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