Use the following to answer questions:
Figure: The Market for Lattes 
-(Figure: The Market for Lattes) Look at the figure The Market for Lattes. What is the price elasticity of supply between the prices of $2 and $2.50 per cup, using the midpoint formula?
Definitions:
Value Chain Analysis
A strategic analysis method that views a firm as a series of processes and activities that transform inputs into valuable outputs.
Logistics
The detailed coordination and implementation of complex operations involving the movement of goods, services, and information from origin to destination in an efficient and effective manner.
Required Ingredients
Essential components or factors necessary for a specific process or outcome to be successful.
Value Chain
A series of activities that a company performs to deliver a valuable product or service to the market.
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