Does total revenue increase-decrease

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Reference no: EM13187896

The following table shows part of the demand for tickets to a local sporting event:
Price(P)...Quantity(Q)
15...........40
10..........100
6............150
3............250
Is demand elastic in the $10 - $15 price range?
Ed = 0.8 in the $6 - $10 price range. In this range of demand, by what percentage would quantity demanded change if price changes by 10 percent?
Price falls from $6 to $3. Does total revenue (TR) increase, decrease, or remain the same?

Reference no: EM13187896

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