Demand curve is d1 what will be the change in her revenue., Ask an Expert

Economics

Q. Use the following graph for yolanda's frozen yogurt stand to answer the questions that follows.

A. To compute the price elasticity of demand use the midpoint for d1 among point a and point c, and the price elasticity of demand for d2 between point a and b. Explain among d1 or d2 which demand curve is more elastic? Briefly explain.

B. Suppose yolanda is initially selling 200 cones per day @ a price of $3.00 per cone. If she cuts her price to $2.50 per cone and her demand curve is d1, what will be the change in her revenue? If her demand curve is d2 what will be the change in her revenue?

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