elearning.k Consider once again the market for iPads. P ($) 800 750 - 700 - 650 600 - Q (000) 100 200 300 400 500 (a) Calculate the price elasticity of demand (PED) for ipads if the price increased from $700 to $750. Is demand elastic or inelastic? marks) (b) What implication does the elasticity measure calculated in Part (a) have for total revenue (TR)? Explain your answer. Calculate the new price of $750. (4 marks) (Approximate numbers read off the chart are ok.) A B I y text entered here will be displayed in the response input box when a new attempt at the question starts. MacBook Air 80 a FA F5 F6 44 DI $7 @ 2 A "> >