1. Increase in total revenue Decrease in total revenue
Elastic Demand
Increase in total revenue
Decrease in total revenue
Price decrease
Price increase

2. A B Demand curve 40 30 20 10 10 20 30 40 Elastic Demand (Ed > 1)
Price per Ticket (dollars) B 20
Demand curve 10 10 20 30 40
Quantity of Tickets per Concert (thousands)

3. Inelastic Demand Decrease in total revenue Increase in total revenue
Price increase
Price decrease

4. C D Demand curve 40 30 20 10 10 20 30 40 Inelastic Demand (Ed < 1)
Price per Ticket (dollars) D 20
Demand curve 10 10 20 30 40
Quantity of Tickets per Concert (thousands)

5. Unitary Elastic Demand No change in total revenue
Price increase
Price decrease

6. Unitary Elastic Demand (Ed = 1)40 E 30
Price per Ticket (dollars) F 20
Demand curve 10 10 20 30 40
Quantity of Tickets per Concert (thousands)