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6. Fill in the total revenue column for each demand schedule then determine if each is elastic, inelastic, or unitary

elastic.

6. Fill in the total revenue column for each demand schedule then determine if each-example-1
User Molmasepic
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Total Revenue for 1st table is Unitary Elastic

15 * 5 = 75

10 * 10 = 100

5 * 25 = 125

Total Revenue for 2nd table is Elastic

15 * 5 = 75

10 * 7 = 70

5 * 10 = 50

Total Revenue for 3rd table is InElastic

15 * 6 = 90

10 * 9 = 90

5 * 18 = 90

The 1st table shows that the demand increase when the prices are reduced with the same proportion which is Unitary Elastic, while in the 2nd table the demand increase with the decrease in price but with a less multiple this is known as elastic. While in the third table it is witnessed that the quantity is equally changed as the price and so the revenue remained same, this was inelastic.

User Sunil Chavan
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