If price were increased from $40 to $42 and quantity demanded fell from 50 to 45, calculate

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If price were increased from $40 to $42 and quantity demanded fell from 50 to 45, calculate elasticity; state whether demand is elastic, unit elastic, or inelastic; and find how much total revenue was when price was $40 and $42.

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Microeconomics

ISBN: 9780077641542

11th Edition

Authors: Stephen Slavin

Question Posted: Feb 29, 2024 07:01 AM

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If price were increased from $40 to $42 and quantity demanded fell from 50 to 45, calculate

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Microeconomics

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