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
a.Based on this information, what is the quantity demanded at each price.
Quantity demanded at price of $50 = Total ...
Demand curves are addressed.