(Solved): MicroEconomics-Chapter 5 Worksheet-Elasticity Demand Schedule for automobiles 1) In the above tabl ...

MicroEconomics-Chapter 5 Worksheet-Elasticity Demand Schedule for automobiles 1) In the above table, what is the total revenue from automobile sales at a price of $\$22,000$ per auto? 2) What is the value of the price elasticity of demand which can be calculated from the above information? 3) Assume that the price elasticity of demand for U.S. Frisbee Co. Frisbees is -.6. If the company increases the price of each frisbee from $\$6$ to $\$8$, what will happen to the number of frisbees sold?