Economics 2 problem?

Posted on 2014-11-18 09:29:00 in Economics by GEOL

According to the midpoint method, the price elasticity of demand between points A and B is approximately ____ . 

Suppose the price of bippitybops is currently $120 per bippitybop, shown as point A on the initial graph. Because the price elasticity of demand between points A and B is _____ , a $15-per-bippitybop decrease in price will lead to _____ in total revenue per day. 

In general, in order for a price increase to cause a decrease in total revenue, demand must be__

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