A local coffee shop owner is considering raising prices on s…

A local coffee shop owner is considering raising prices on specialty lattes. Based on past sales data, the owner knows that demand for specialty lattes is elastic. If the owner raises prices, what is the most likely effect on the shop’s total revenue, and what would you advise the owner to do?

The market for streaming music subscriptions changes as foll…

The market for streaming music subscriptions changes as follows:Consumers shift toward free, ad-supported streaming platforms.At the same time, improvements in cloud infrastructure and licensing agreements lower the cost of providing paid streaming services.What is the most likely outcome in the market for paid streaming subscriptions?