Refer to the demand schedule shown in Table 4P-1. For each price change, say whether demand is
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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 decreases from $70 to $60. Demand is ______ and total revenue ______.
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