Demand is elastic-inelastic or unit-elastic over price range

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Suppose that the total revenue received by a company selling basketballs is $840 when the price is set at $15 per basketball and $840 when the price is set at $10 per basketball. Without using the midpoint formula, can you tell whether demand is elastic, inelastic, or unit-elastic over this price range?

Reference no: EM13996085

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Demand is elastic-inelastic or unit-elastic over price range : Suppose that the total revenue received by a company selling basketballs is $840 when the price is set at $15 per basketball and $840 when the price is set at $10 per basketball. Without using the midpoint formula, can you tell whether demand is elas..

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