(Solved): (Fiure: The Price Elasticity of Demand) Using the midpoint formula, calculate the price elasticit ...

(Fiøure: The Price Elasticity of Demand) Using the midpoint formula, calculate the price elasticity of demand between points a and $c$. 2.94 .33 3.00 .02 In general, when the price elasticity of demand is less than 1 and a firm wants to increase total revenue, a firm should: decrease prices. advertise more. increase prices. advertise less.