d. How much would the firm's revenue change if it lowered the price from

$12 to $10? Is demand elastic or inelastic in this range? b. How much would the firm's revenue change if it lowered the price from

$4 to $2? Is demand elastic or inelastic in this range? c. What price maximizes the firm's total revenues? What is the elasticity of

demand at this point on the demand curve? 2. The demand curve for a product is given by O = 1,200 - 3P,-0.1P.

where P. = $300. 4. What is the own price elasticity of demand when P.= $140? Is demand

clastic or inelastic at this price? What would happen to the firm's revenue

if it decided to charge a price below $ 1-40? b. What is the own price elasticity of demand when P. = $240? Is demand

clastic or inelastic at this price? What would happen to the firm's revenue

if it decided to charge a price above $240? c. What is the cross-price elasticity of demand between good X and good Z

when P. = $140? Are goods X and Z substitutes or complements?