Following table shows the price and quantity demanded of a good-00640
This subjective question is related to the book/course
vu cs403 Database Management Systems.
It can also be found in
vu cs403 Mid Term Solved Past Paper No. 4.
Question 1: Following table shows the price and quantity demanded of a good.
Answer:
| Price | Quantity demanded |
| 2.5 | 400 |
| 5 | 200 |
| 10 | 100 |
| 20 | 50 |
| 40 | 25 |
- Calculate the total revenue from this table.
- Interpret whether the demand is elastic, inelastic or unitary elastic and why?
- What will be the shape of demand curve according to the above tableDraw the graph.
