Question: Please help with explaining the following question, Q4 [20 points] A recent article, published in Journal of Post-autistic Economics, found that the elasticity of demand

Please help with explaining the following question,

Q4 [20 points] A recent article, published in Journal of Post-autistic Economics, found that the elasticity of demand for Google Play apps is -0.7 . This elasticity applies to a small college town where approximately 2,000 apps per month sold. If price rises by 10%, what would be the effect on quantity demanded? Would revenue rise or fall? What is the percentage change in revenue (price times quantity)? Interpret and explain your results

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