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Price ($)-: 9,8 Quantity Demanded-: 2,3 Total Revenue(P x Q D ) ($)-: 18,24 Marginal Revenue (change in TR) ($):-(24-18)/(3-2)=+6/1=+6 Calculate the absolute value of
Price ($)-: 9,8
Quantity Demanded-: 2,3
Total Revenue(P x QD) ($)-: 18,24
Marginal Revenue (change in TR) ($):-(24-18)/(3-2)=+6/1=+6
- Calculate the absolute value of the elasticity of demand for a for a fall in price from $9 to $8 (which is associated with a rise in the quantity demanded from 2 to 3):
Absolutevalue of the elasticity of demand =
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College Accounting Chapters 1-12
Authors: David D Busch, Tracie Nobles
11th Edition
1133710190, 978-1133710196
