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Refer to Figure 5-2. If the price decreased from $18 to $6,Revenue at $18 = 18*100=$1800$6=6*500=$3000Revenue increased by $1200 and demand is considered elastic from pt A to B
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Refer to Figure 5-2. If the price decreased from $18 to $6,Revenue at $18 = 18*100=$1800$6=6*500=$3000Revenue increased by $1200 and demand is considered elastic from pt A to B

User Jonovos
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