Question: Suppose for a particular commodity, e= .25 that currently 10,000 units are selling for $5 each. How does a 1% increase in the price affects

Suppose for a particular commodity, e= .25 that currently 10,000 units are selling for $5 each. How does a 1% increase in the price affects the revenue?

A 1% increase in price increase the total revenue by how much?

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