Explore BrainMass
Share

Elasticity, Demand, and Total Revenue

If possible try to write down references please.

© BrainMass Inc. brainmass.com July 18, 2018, 8:22 pm ad1c9bdddf

Attachments

Solution Preview

See the attached file. Hope this will help. Thanks

Demand Schedule for Barbeque Dinners
Price Quantity Demanded Total Revenue Elasticity Coefficient Elastic or Inelastic
$4 100 __________ XXXX XXXX
6 80 __________ __________ __________
8 60 __________ __________ __________
10 40 __________ __________ __________
12 20 __________ __________ __________
14 1 __________ __________ __________
A. Calculate the total revenue for each level of demand.
See the calculations in the table below:
Total revenue = Price * Quantity Demanded
Price Quantity Demanded Total Revenue Elasticity Coefficient Elastic or ...

Solution Summary

Explain how the elasticity changes as price increases in this post.

$2.19