Describe the relationship between elasticity and total revenue when considering an increase in price.

When the price of wheat rose from $10/kg to $15/kg its demand remained costant at 100 kgs. Calculate the price elasticity of demand for wheat?

If the current price elasticity of demand for apples is -50, what will be the change in sales (i.e., total revenue) after a 20% price increase? Please show your calculation.

Calculate the elasticity of demand when demand falls by 10% due to rise in price by 4%

Which of the following could be the price elasticity of demand for a good for which an increase in price would increase revenue?

The price of DVDs falls from an average of $22 to $16. As a result sales increase from 50,000 units per year to 85,000 units. What's the price of elasticity

Calculate the value of elasticity of supply when price rise by 20% and the quantity supplied rises by 60%

When the price of kittens was $20 each, the pet shop sold 20 per month. When they raised the price to $30 each, they sold 14 per month. What is the elasticity of demand for kittens? 1.66 Another value (not listed) 0.88 0.66 1.36

Discuss The relationship between change in price and total revenue depends on the elasticity of demand

The price elasticity of demand for keyboards is 2.3. If the percentage change in quantity demanded is 50% and the average price is $10, what is the change in price? Work with 6 decimal places and round your final answer to 2 decimal places, if necessary. Do not enter the comma "," or a dollar sign ($) while entering your answer. Check