Every coffee shop in Jitterville has a fixed cost of $25 per day, a capacity of 25 cups of coffee per day, and a variable cost of $1.00 per cup of coffee. There are 120 coffee drinkers in Jitterville, each of whom will purchase one cup of coffee per day from a coffee shop if the price is right. Eighty are willing to buy a cup for $2.50 or less, and 40 are willing to buy a cup for $1.50 or less. In a long-run equilibrium of the coffee market in Jitterville, how many coffee shops are open and what is the price of a cup of coffee
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