1. Assume that, for a particular demand curve, when price rises from $50 to $60, total revenue falls from $8,750 to $7800.
a. Based on this information, what is the quantity demanded at each price.
b. Without calculating the coefficient of elasticity, is demand over this range elastic or inelastic?
a.Based on this information, what is the quantity demanded at each price.
Quantity demanded at price of $50 = Total ...
Demand curves are addressed.