Whether demand is elastic, inelastic, or unit-elastic, Microeconomics

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Whether demand is elastic, inelastic, or unit-elastic

Problem: Suppose that the total revenue received by a company selling basketballs is $600 when the price is set at $30 per basketball and $600 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: Whether demand is elastic, inelastic, or unit-elastic

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