Calculate the total revenue for each level of demand.

Using the midpoints formula presented in the text, calculate the elasticity coefficient for each price level, starting with the coefficient for the $4 to $6 level. For each coefficient, indicate what type of elasticity is indicated, elastic demand, inelastic demand, or unitary demand.

Define elastic, inelastic, and unitary elasticity means. How are these related to total revenue?

Explain how the elasticity changes as price increases. Why is this happening?

Elasticity, Demand, and Total Revenue are determined. This solution defines the terms elastic, inelastic and unitary elasticity and how they relate to total revenue. The solution also explains how the elasticity changes as price increases. The total solution is 513 words.

Please see attached.
a) Suppose the current price is $8 per cup. Using elasticity of demand, explain why Starbucks should not increase the price in order to increase totalrevenue.
(b) Suppose the current price is $2 per cup. Using elasticity of demand, explain why Starbucks should not lower the price in order to

Quantity Price Elasticity
Demanded
100 $ 5
80 $10
60 $15
40 $20
20 $25
10 $30
1. Determine the price elasticity of demand at each quantity demanded using the formula % chg in QD divided by % chg in price.
2. Redo #1 using price changes of $

1. Determine the price elasticity of demand at each quantity demanded using the formula: Percentage change in quantity demanded = (Q2-Q1)/Q1 divided by percentage change in price = (P2-P1)/P1
b. Redo exercise 1a using price changes of $10 rather than $5
c. Plot the price and quantity date given in the demand schedule. Indi

Demand curve product X is given as Q= 2000 - 20P.
a. how many units will be sold at price $ 10
B. at what price would 2000 units be sold? o units? 1500?.
c. write equations for totalrevenueand marginal revenue (interm of Q).
d. what will be the totalrevenue at price of $ 70? what will be marginal revenue?
e. what is

Your firm's research department has estimated the elasticity of demand for toys to be -0.7. As the manager of the firm, determine the impact of an 8 percent increase in toy prices on your totalrevenues.

I hope you can help me with this:
Question 1
P 0 1 2 3 4 5 6
Qd 600 500 400 300 200 100 0
A. Graph the data above
b. Calculate the elasticity of demand, using the point formula, as price drops from $6 to 5, then from 5 to 4, 4 to 3, 3 to 2, 2 to 1, and, 1 to 0. Show all work.
C. Calculate the price elasticity

Suppose the own-price elasticity of demand for good X is -0.5, and that the price of good X increases by 10%. What would you expect to happen to the total expenditures on good X?
A. increase.
B. decrease.
C. unchanged.
D. none of the above.