At a price of $1.00 each, he sells 300.

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? LO2