Economics 1st Edition by Dean Karlan,Jonathan Morduch

تمرين 2

Problems 7 and 8 refer to the demand schedule shown in Table 4P-1. For each price change, say whether demand is elastic, unit-elastic , or inelastic , and say whether total revenue increases, decreases , or stays the same.

Price increases from $10 to $20. Demand is ___and total revenue ___