Consider the following demand curve for Starbucks coffee. 
(a) Suppose the current price is $8 per cup. Using elasticity of demand, explain why Starbucks should not increase the price in order to increase total revenue.
(b) Suppose the current price is $2 per cup. Using elasticity of demand, explain why Starbucks should not lower the price in order to increase total revenue.
Definitions:
Persona
A social mask or identity one presents to the world, often different from one's true self.
Collective Unconscious
A concept in analytical psychology proposed by Carl Jung, referring to a part of the unconscious mind that is shared among beings of the same species containing archetypes and universal experiences.
Controversial Aspect
An aspect that provokes disagreement or debate due to differing opinions.
Personal Unconscious
Carl Jung's term for the layer of unconscious that harbors lost memories, painful ideas that are repressed, and undeveloped ideas, particular to the individual.
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