Elasticity TR For Each Price Level

/in /by

Based on the information below please:

  • Calculate TR for each price level
  • At every price level compare TR thus you will calculate the change in TR as the price drops.
  • In which price range is your demand elastic
  • In which price range is your demand unit elastic
  • In which price range is your demand inelastic
  • Explain how you can assess that in a particular price range the demand is elastic, unit elastic or inelastic.

Price Quantity TR

10 1

9 2

8 3

7 4

6 5

5 6

4 7

3 8

2 9