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Using total revenue calculations

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Reference no: EM132117708

1) A DVD store raised the price of its DVDs from $14 to $18. Correspondingly, sales fell from 2,800 units to 1,200 units per month. 

Using total revenue calculations, we can say that, given this change in price, total revenue (increased/ decreased). 

In this case, demand is (elastic/ indeterminate/ inelastic).

Reference no: EM132117708

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