Question: Using the price and quantity you've identified, consider what would happen if this price were to increase by 10%.Estimate the new industry quantity based on

Using the price and quantity you've identified, consider what would happen if this price were to increase by 10%.Estimate the new industry quantity based on your statement in answer a. about whether or not this industry would be elastic or inelastic.Calculate the elasticity coefficient based on your price and quantity estimates and the industry revenue before and after the price increase.Do not use data from two different periods.Just consider one price/quantity combination and look at what would happen to that quantity if there were a 10% price increase.

my numbers are

quantity= 10,775

price = 951,404

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