F. 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.

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 $_________