What happened to total revenue

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Reference no: EM13921757

Prior to a price increase, the price and quantity demanded for a product were $10 and 100, respectively. After the price increase, they were $12 and 90.

a. Calculate the arc elasticity of demand.

b. Is the demand elastic or inelastic over this region?

c. What happened to total revenue?

Reference no: EM13921757

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