Suppose that over the past year the price of laptop computers has fallen from $1; 800 to $1; 000. Over the same time period, sales to consumers have risen from 400,000 to 600,000 units. What is the absolute value of the elasticity of demand? this coffee company operated in a perfectly competitive market and the market price of coffee was p = $3:00, in the long run (assuming a constant cost industry) we would expect: (a) The price of coffee to rise, (b) The price of coffee to fall (c) The price of coffee will remain the same (d) Firms would exit the market.