Suppose that the price of a kilo of bananas drops from $3.5 to $1.5, and as a result, the quantity sold increases from 75 to 125 kilos.

a) What is the value of total revenue before and after the price change?Round your answers to 1 decimal place.

$ and $ .

b) What is the percentage change in the price?

c) What is the percentage change in the quantity?

d) What is the value of the price elasticity of demand? Round your answer to 2 decimal places.

e) Is the demand elastic or inelastic?

(Click to select) inelastic, elastic