Suppose that you know that the price elasticity of demand is 1.3.
If we increase the price of the this product, then that the total revenue will
Suppose that you know that the price elasticity of demand is 0.8.
If we decrease the price of the this product, then that the total revenue will
Suppose that when the store increases the price of from $ to $, quantity demanded decreased from to .
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.