uppose that the price of a kilo of bananas drops from $6 to $4, and as a result, the quantity sold increases from 85 to 115 kilos. What is the value of total revenue before and after the price change? Round your answers to 1 decimal place. 510 and $ 460 What is the percentage change in the price? 40% What is the percentage change in the quantity?
uppose that the price of a kilo of bananas drops from $6 to $4, and as a result, the quantity sold increases from 85 to 115 kilos. What is the value of total revenue before and after the price change? Round your answers to 1 decimal place. 510 and $ 460 What is the percentage change in the price? 40% What is the percentage change in the quantity?
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter19: Elasticity
Section: Chapter Questions
Problem 11QP
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Please kindly provide solution for part C
![Suppose that the price of a kilo of bananas drops from $6 to $4, and as a result, the quantity sold increases from 85 to 115 kilos.
a) What is the value of total revenue before and after the price change? Round your answers to 1 decimal place.
510 and $
460.
b) What is the percentage change in the price?
40%
c) What is the percentage change in the quantity?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff53eb250-5103-433f-a882-915aa4d88212%2F1dad539e-85ed-4eea-8b78-81062c93f6e4%2F2t928oe_processed.png&w=3840&q=75)
Transcribed Image Text:Suppose that the price of a kilo of bananas drops from $6 to $4, and as a result, the quantity sold increases from 85 to 115 kilos.
a) What is the value of total revenue before and after the price change? Round your answers to 1 decimal place.
510 and $
460.
b) What is the percentage change in the price?
40%
c) What is the percentage change in the quantity?
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