Please give me a hand with this question Los Angeles-arbor Coll w us oli gernng.
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Please give me a hand with this question
Los Angeles-arbor Coll w us oli gernng.co ? G AtWebsRAs, a est ? e Ear Sco ano e o G x G win statement Beszcx eLabel Teri ng The 10 ro Grann hn x × x Cww.saplinglearning.com/ibiscms/mod/ibis/view.phpid-5637410 Apps Canvas Loan Cengege Login Student Emel Lour Anthro Class Bcok Economics onine h Student Informatio ? cornert2m 3 net-C , 1 Amazon Credit Car C Chegg Book Rentals Cheg Book Rentals w Transition words & W Transition Words & Sapling Learning mzcmilan leaming Jump to... Carlos Martínez- Attempts Score @7/7/2018 11:59 PM Assignment Information # Ouesian 15 af 25 Available From: 71/2018 06:00 AM Due Date: Points Possble: 34 Grade Category Graded 7/7/2019 11:59 PM 12 1 Sapling Learming 13 1 Esch scenario belaw dats, and determine if the price change under consideration will increase, decrease, or not chnge the firm's s some infornation about price elasity of demand. For each, calaulale the missi 141 HW Econ LAHC F15 15 0 Honest Abe's Used Cars estimates the price elasticity of demand for their cars to be 4.6. Last month, Abe tried a new marketing schrn which decreased tho number of cars sold by 95% Abe must hadecre8sed You can check your answers. You can keep trying to answer each question until you ger it right or give up. You can view solutions after due dates for ell students in the class have passed. You lose 20%of the points available to each answer in your question for each in attempt at thet answer For multiple choice questions, the penalry depends on the number of choices available. 16 D be's total revnu inoreased did not change mbsr 17 O increased O 18 19 D 20 21 D correct Al Webs R-Us, a webste design company, tht, new manager hX5 deaded to increase the priced Webs-R-Us If Webs-R-Us has a price elasticity of demsnd at 0.50, we can expected the number of websites designed t incres by Number OeTextbook and total revnue to O not change O dlecrease OHelp With This Topic 23 24 25 0 O Web Help & videos 01-203 pling Learning, Inc syllabus, Econ-1L.L.. o Show allX 1236 PM O Type here to search 1TIA/2018Explanation / Answer
Elasticity=%change in Q/%change in price
4.6=95/%change in price
Thus price increases by 20.65% and total revenue decreases because when demand is elastic, there is an inverse relation between price and total revenue.
2)no of website designed decreases by 15*0.5=7.5% and total revenue imcreases because inelastic demand has positive relation between price and total revenue.