Danny "Dimes" Donahue is a neighborhood's 9-year old entrepreneur. His most recent venture is selling homemade brownies that he bakes himself. At a price of $1.50 each, he sellS 1 00. At a price of $1.00 each, he sellS 3 00. Is demand elastic or inelastic over this price range? If demand had the same elasticity for a price decline from $1.00 to $0.50 as it does for the decline from $1.50 to $1.00, would cutting the price from $1.00 to $0.50 increase or decrease Danny's total revenue?

Macroeconomics 19th Edition by Campbell McConnell , Stanley Brue,Sean Flynn

النسخة 19الرقم المعياري الدولي: 978-0077337728

Macroeconomics 19th Edition by Campbell McConnell , Stanley Brue,Sean Flynn

النسخة 19الرقم المعياري الدولي: 978-0077337728

تمرين 4

Danny "Dimes" Donahue is a neighborhood's 9-year old entrepreneur. His most recent venture is selling homemade brownies that he bakes himself. At a price of $1.50 each, he sellS₁00. At a price of $1.00 each, he sellS₃00. Is demand elastic or inelastic over this price range? If demand had the same elasticity for a price decline from $1.00 to $0.50 as it does for the decline from $1.50 to $1.00, would cutting the price from $1.00 to $0.50 increase or decrease Danny's total revenue?

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The demand is elastic over this price ra...