Price of toll = $0.90 | Price of toll = $1.10 | |
|---|---|---|
Uni (price elasticity of demand = 1) | ||
Quantity demanded | 1,100 | 900 |
Total revenue | $990 | $990 |
Inelastic demand (price elasticity of demand = 0.5) | ||
Quantity demanded | 1,050 | 950 |
Total revenue | $945 | $1,045 |
Elastic demand (price elasticity of demand = 2) | ||
Quantity demanded | 1,200 | 800 |
Total revenue | $1,080 | $880 |