Explain whether demand is inelastic-unit-elastic-price range, Microeconomics

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Explain whether demand is inelastic-unit-elastic-price range

Suppose that the total revenue received by a company selling basketballs is $720 when the price is set at $30 per basketball and $720 when the price is set at $20 per basketball. Without using the midpoint formula, can you tell whether demand is elastic, inelastic, or unit-elastic over this price range?

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Microeconomics: Explain whether demand is inelastic-unit-elastic-price range

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Microeconomics: Explain whether demand is inelastic-unit-elastic-price range

Reference No:- TGS070195

Have a Question? (oR Write a Review)

Recent Questions Asked Microeconomics

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Microeconomics: Explain whether demand is inelastic-unit-elastic-price range

Reference No:- TGS070195

Recent Questions Asked Microeconomics

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