This question is based on the following diagram of the demand for titbits. ...

✅ The verified answer to this question is available below. Our community-reviewed solutions help you understand the material better.

This question is based on the following diagram of the demand for titbits.

 If the price of titbits decreases from R5 to R4, total revenue _____, which means that demand is _____.

changes from R60 to R90; elastic

0%

changes from R240 to R360; elastic

100%

remains constant; unit elastic

0%

changes from R40 to R50; inelastic

0%

Want instant access to all verified answers on cems.myexams.unisa.ac.za?

Get Unlimited Answers To Exam Questions - Install Crowdly Extension Now!

Add to Chrome