A number of the growers are concerned about the price decrease initiated by the stretch of favorable weather conditions, as they believe it will lead to decreased revenue. Using elasticities, you will be able to determine whether this price change will lead to a rise or fall in total revenue in this market. Using the midpoint method, the price elasticity of demand for pistachios between the price levels of $15 and $12 per ton is between these two points, demand is . Thus, you can conclude that the grower's claim is because total revenue will due to the favorable weather conditions. Confirm your previous conclusion by calculating total revenue in the pistachio market before and after the favorable weather conditions. Enter these values in the following table..

1. A number of the growers are concerned about the price decrease initiated by the stretch of
favorable weather conditions, as they believe it will lead to decreased revenue. Using elasticities,
you will be able to determine whether this price change will lead to a rise or fall in total revenue in
this market. Using the midpoint method, the price elasticity of demand for pistachios between the
price levels of $15 and $12 per ton is between these two points, demand is . Thus, you can
conclude that the grower's claim is because total revenue will due to the favorable weather
conditions. Confirm your previous conclusion by calculating total revenue in the pistachio market
before and after the favorable weather conditions. Enter these values in the following table.