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The price of a good rises from $4.00 to $4.50, and as a result, total revenue falls from $400 to $350 Is the demand for the good elastic, inelastic, or unitelastic?

The price of a good rises from $4.00 to $4.50, and as a result, total revenue falls from $400 to $350 Is the demand for the good elastic, inelastic, or unitelastic?
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The price of a good rises from $4.00 to $4.50, and as a result, total revenue falls from

$400 to $350

Is the demand for the good elastic, inelastic, or unitelastic?

User Bahri Noredine
by
8.2k points

1 Answer

13 votes

Answer:

elastic, and decreasing

User Turbot
by
8.0k points
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