Question: Complete the table below indicating the relationship between the percentage change in quantity demanded and the percentage change in price; the change in total revenue

  1. Complete the table below indicating the relationship between the percentage change in quantity demanded and the percentage change in price; the change in total revenue as price increases and decreases, and give two examples of each.
Elasticity: The percentage change in quantity demanded is ____ than the percentage change in price. If price increases total revenue will: If price decreases total revenue will: Examples
Elastic
Inelastic
Unit Elastic

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