FIGURE 4. 17 MOVIE TICKET REVENUE TABLE Price of a Quantity a At $10 a ticket, the Movie Demanded Total quantity demanded is Ticket ($) per Month Revenue ($) 2,000. Total revenue is 12 $20,000. 1,000 12,000 b When the price drops a 10 2,000 20,000 to $8, the quantity demanded rises to 8 6,000 48,000 6,000. Total revenue 6 12,000 72,000 rises to $48,000. So, demand is elastic. 4 20,000 80,000 Use the Total Revenue test to answer the question below ANALYZE TABLES When the price range changes from $8 to $6, is demand elastic or inelastic? Explain