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Help In each case below, determine the effect on the sellers' total revenue and identify whether the demand curve in this particular market is elastic,
Help In each case below, determine the effect on the sellers' total revenue and identify whether the demand curve in this particular market is elastic, Inelastic, or unit-elastic in the relevant price range. a. When the price per package of a brand of chocolate chip cookies increases from $3 to $5, monthly quantity demanded decreases from 35,000 to 20,000 packages. Initial total revenue is $]and final total revenue is $. Demand is (Click w weir!) :] b. A fall in the price of sugar from $6 to $3 per carton raises weekly quantity demanded from 20,000 to 25,000 cartons, Initial total revenue is $ s and final total revenue is $ [ Demand is Tick to winch) 1] c. A rise in the quantity demanded of a monthly fashion magazine from 35,000 to 45,000 copies occurs when its newsstand price is reduced from $11 to $9. initial total revenue is $ ] and final total revenue is $ . Demand is [ Pictto wiech] ] d. Daily quantity demanded of a particular model of earphones rises from 5,000 to 6,000 earphones if the price drops from $120 to $100. Initial total revenue is $| |and final total revenue is $ . Demand is [Cicone]
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