The price elasticity of demand = 0.5
It means if we increase the price of coffee by 1%, the amount of
coffee sold will decrease by 0.5%.
AND
The price elasticity of demand = 1.25
It means if we decrease the price of coffee by 1%, the amount of
coffee sold will increase by 1.25%.
1202114 Introduction to Economics
How to interpret the price elasticity
of demand?
Point elasticity
A different elasticity coefficient between the
same two points on the curve