Question: If price lowered from $10 to $8 and quantity demanded rose from 50 to 51, calculate elasticity; state whether demand is elastic, unit elastic, or

If price lowered from $10 to $8 and quantity demanded rose from 50 to 51, calculate elasticity; state whether demand is elastic, unit elastic, or inelastic and find out how much total revenue was when the price was $10 and $8.

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