Suppose that the total revenue received by a company selling basketballs is $600 when the price is
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Suppose that the total revenue received by a company selling basketballs is $600 when the price is set at $30 per basketball and $600 when the price is set at $20 per basketball. Without using the midpoint formula, can you tell whether demand is elastic, inelastic, or unit-elastic over this price range? LO2
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Related Book For 
Essentials Of Economics
ISBN: 9780077502140
3rd Edition
Authors: Stanley Brue, Campbell McConnell, Sean Flynn
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