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Price elasticity of demand

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Emily Holmes
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Price Elasticity of Demand Economics
Price elasticity of demand ,[object Object],[object Object]
Elastic ,[object Object],[object Object],[object Object]
Inelastic ,[object Object],[object Object],[object Object]
Unitary Price Elasticity ,[object Object],[object Object]
Measuring Total Revenue ,[object Object],[object Object]
The relationship between price, elasticity, and total revenue Increasing price increases total revenue Increasing price decreases total revenue Inelastic Demand Decreasing price decreases total revenue Elastic Demand Decreasing price increases total revenue
Find the dollar value of total revenue at each of the six prices. At what price will total revenue be the greatest? How many units will sell at that price? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

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Price elasticity of demand

  • 1. Price Elasticity of Demand Economics
  • 2.
  • 3.
  • 4.
  • 5.
  • 6.
  • 7. The relationship between price, elasticity, and total revenue Increasing price increases total revenue Increasing price decreases total revenue Inelastic Demand Decreasing price decreases total revenue Elastic Demand Decreasing price increases total revenue
  • 8.