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{"ops":[{"insert":"Mary is a smart entrepreneur in her primary school. She sells ball points to her fellow school mates. At a price of $2.00 each, she sells 100. At a price of $1.50 each, she sells 300.\n(i) Is Mary\u2019s demand elastic or inelastic over this price range? (5 marks)\n(ii) If demand had the same elasticity for a price decline from $1.50 to\n$1.00 as it does for the decline from $2.00 to $1.50, would cutting the price\nfrom $1.50 to $1.00 increase or decrease Mary\u2019s total revenue?\n"}]}
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