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What say about value of the price elasticity of demand

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If the price of X drops from $1 to 80 cents, and the quantity rises from 2,000 pounds purchased to 3,000 pounds purchased what can we say about the relationship between total revenue from the sale of X and the value of the price elasticity of demand? Suppose that the demand for X rises from 2,000 pounds to 2,100 pounds after the price drop. What can we say about the rise in total revenue from the sale of X and the price elasticity of demand in that case?

Reference no: EM13945791

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