Explore BrainMass
Share

Explore BrainMass

    Demand Curves

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    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?

    © BrainMass Inc. brainmass.com October 10, 2019, 12:45 am ad1c9bdddf
    https://brainmass.com/economics/demand-supply/demand-curves-305467

    Solution Preview

    a.Based on this information, what is the quantity demanded at each price.

    Quantity demanded at price of $50 = Total ...

    Solution Summary

    Demand curves are addressed.

    $2.19