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Suppose that you know that the price elasticity of demand is 0.1.

If we **increase** the price of the this product, then that the total revenue will

Hint

Box 1: Select the best answer

Suppose that you know that the price elasticity of demand is 1.2.

If we **decrease** the price of the this product, then that the total revenue will

Hint

Box 1: Select the best answer

Suppose that when the store increases the price of cereal from $2.6 to $4, quantity demanded decreased from 200 to 130.

What is the change in total revenue as a result of this price change.

Make sure to include a negative sign in your answer if necessary.

Hint

Box 1: Enter your answer as an integer or decimal number. Examples: 3, -4, 5.5172

Enter DNE for Does Not Exist, oo for Infinity