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Starbucks is one of the most successful companies in the country. It has revolutionized the entire coffee-house industry in this country and way beyond.

Is the demand for coffee elastic or inelastic? Is the demand for Starbuck coffee elastic or inelastic? What factors lead you to that decision (use actual data)? What do you think Starbucks should do to ensure its ongoing success even when the economy is not as strong as today.

*There is no specified number of sources.