This week, Super-Save Supermarket lowered the price of apples from $1 to 90 cents per pound. The quantity of apples sold last week was 200 pounds. This week, the quantity sold was 250 pounds.

Calculate the price elasticity of demand. Is it elastic, inelastic, or unitary elastic?

What happens to total revenue?

Be sure to reference at least one scholarly source to support your answer.

Make sure to explain cover the following:

Calculate price, income, and cross elasticity of demand?

Use elasticity of demand to estimate the effect of changes in price on revenue?