Suppose the Cabbage rises from $0.20 per Kilogram to $0.30 per Kilogram. The quantity demanded of…

Suppose the Cabbage rises from $0.20 per Kilogram to $0.30 per Kilogram. The quantity demanded of…

Suppose the Cabbage rises from $0.20 per Kilogram to $0.30 per Kilogram. The quantity demanded of cabbage falls from 800 Kilogram per week to 600 Kilogram per week. Calculate the price elasticity of demand for cabbage using the midpoint formula. Is the demand elastic, inelastic, or unit elastic? What would be the effect on total revenue of the Cabbage seller of such an increase in the Cabbage price?

Suppose the Cabbage rises from $0.20 per Kilogram to $0.30 per Kilogram. The quantity demanded of…

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