Just want to see if what I put is right.

IN (2). A business magazine reported: "In the past year, prices have fallen from $3000 to $2000 for a personal computer. This has resulted in the number of PCs sold rising by 60%. " a. What is the implied own-price elasticity of demand? (Show your work!) - 4 pts. Ean= .6/.33= 1.8 60%=0.6= %# in Q 3000 to 2000- 33% or 0.33 decrease = %# in P b. Is demand elastic or inelastic? Why? - 2 pts. In this case, demand is elastic due to 1.8 being greater than 1, the percentage change in quantity is evidently greater than the percentage change in price. Absolute value of own price elasticity is higher than 1. C. As the result of this price drop, would you expect the total amount spent by consumers ("Total Expenditures") on these PCs to rise or fall? Why? - 4 pts. Due to the resulting price drop, I would expect the Total Expenditures by consumers to increase due to demand being elastic. When demand is elastic, a decrease in price overall leads to an increase in total revenue, because when prices drop by X%, quantity demanded increases by more than X%, leading to an increase in total amount spent