Question: The following table shows part of the demand for marshmallows:

a. Is demand elastic in the $6-$10 price range?

b. Ed = 0.75 in the $3 - $6 price range. (Take my word for it.) In this range of demand, by what percentage would quantity demanded change if price changes by 4 percent?

c. Price falls from $15 to $10. Does total revenue (TR) increase, decrease, or remain the same?