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4. Price rises from $1.50 to $2 and Quantity Demanded decreases from 1000 to 900 units. Calculate coefficient: Cite Elasticity; What happens to TOTAL REVENUE:

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4. Price rises from $1.50 to $2 and Quantity Demanded decreases from 1000 to 900 units. Calculate coefficient: Cite Elasticity; What happens to TOTAL REVENUE: 5. When Cottonwood City Transit Authority raised bus fares, its total revenue increased, which shows that demand for travel is ; ELAsnggNELAsTIC EXPLAIN

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