Identify Whether the Demand is Elastic, Inelastic, or Unit-Elastic

suppose that the total revenue received by a company selling basketballs is $600 when the price is set at $30 per basketball and $600 when the price is set at $20 per basketball. Without using the midpoint formula, can you tell whether demand is elastic, inelastic, or unit-elastic over this price range?

Looking for this or a Similar Assignment? Click below to Place your Order

Open chat
%d bloggers like this: