P*Q ChTR/ChQd

Quantity Total Marginal % change in % Change in Interpretati

Price Elasticity
Demanded Revenue Revenue quantity price on
20 24 480 N/A N/A N/A
40 20 800 80 -18% 67% -0.27 inelastic
60 16 960 40 -22% 40% -0.56 inelastic
80 12 960 0 -29% 29% -1.00 unitary
100 8 800 -40 -40% 22% -1.80 elastic
120 4 480 -80 -67% 18% -3.67 elastic

(New-Old)/mid (New-Old)/mid

Quantity
e
Demanded
140 las
tic
120 6; 120
un
ita
100 5 ry
80 4 ine
las
Price tic
60 3

40 2

20 1

0
0 5 10 15 20 25 30
Qd
y Demanded

Qu
ine an-
las
tic tity
De
ma
2 nd
1 ed

0 25 30