3/6/2021 APPLY Elasticity Digital Interactive-UGUR KARATAS Student: UGUR KARATAS Instructor: Laura Storino Date: 3/6/21 Course: Spr 2021 Microecon 50:220:102:92 Assignment: APPLY Elasticity Digital Interactive 4. Suppose the demand for L.L. Bean coats is illustrated in the figure to the right. Suppose the price of L.L. Bean coats is $80. What is total revenue? (Enter a numeric response using a real number rounded to two decimal places.) Now suppose the price of L.L. Bean coats increases to $90. What is total revenue now? $ 4 Given the change in total revenue caused by the price increase, demand for Price of L.L. Bean coats L.L. Bean coats is (1) - 20 40 60 80 100 120 140 160 180 200 Quantity of L.L. Bean coats (1) inelastic elastic