Calculate the elasticity of demand

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Reference no: EM13266555

1 Consider the data below.

P 0 10 20 30 40 50 60 70 80 90

Qd 45 40 35 30 25 20 15 10 5 0

Graph the data.

b-c. Calculate the elasticity of demand for each item below. BE CERTAIN to interpret/explain what your answer means.

b. price decreased from $80 to $70. (10 pts.)

c. price increased from $10 to $20 (10 pts.)

d. calculate total revenue at every price.

Reference no: EM13266555

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