Calculate the demand elasticity, in absolute terms, determine if the product is elastic or inelastic and calculate the total revenue (TR) change. Show your math calculations. Use the standard calculation not the midpoint formula calculation.

1.

As price falls from $5 to $4 the quantity increases from 30 to 40 units.

Elasticity =

The product is elastic/unit-elastic/inelastic and TR increased/decreased from $ ____ to $____

2.

As price falls from $4 to $3 the quantity increases from 40 to 50 units.

Elasticity =

The product is elastic/unit-elastic/inelastic and TR increased/decreased from $ ____ to $____

3.

As price rises from $3 to $4 the quantity decreases from 100 to 90 units.

Elasticity =

The product is elastic/unit-elastic/inelastic and TR increased/decreased from $ ____ to $____