Price decreases-total revenue-demand

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Using the data from above: As price decreases from $1.00 to $0.70, demand is (elastic, inelastic, unit-elastic) ______________ and total revenue (increases, decreases, remains the same) ______________.

b. As price decreases from $0.70 to $0.60, demand is (elastic, inelastic, unit-elastic) ______________ and total revenue (increases, decreases, remains the same) ______________.

c. As price decreases from $0.60 to $0.40, demand is (elastic, inelastic, unit-elastic) ______________ and total revenue (increases, decreases, remains the same) ______________.

Reference no: EM13798181

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