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Starbucks’s marketing department

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If Starbucks’s marketing department estimates the income elasticity of demand for its coffee to be 1.45, how will the prospect of an economic bust (expected to decrease consumers’ incomes by 6 percent over the next year) impact the quantity of coffee Starbucks expects to sell?

Instruction:Round your response to 2 decimal places.

It will change by  percent.

Please show work and solution to the above question. thanks

 
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