When the price of bread rises from $1.25 to $1.50 per loaf, quantity demanded falls from 5,800 per week to 5,500. Calculate total revenue both before and after the price change. What can we tell about the price elasticity of demand for bread?

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The Answer of When the price of bread rises from $1.25 to $1.50 per loaf, quantity demanded falls from 5,800 per week to 5,500. Calculate total revenue both before and after the price change. What can we tell about the price elasticity of demand for bread?

When the Price of Bread Rises from $1