The Total Revenue Test of Price Elasticity of Demand ( part 1)
Автор: Jason Welker
Загружено: 2016-09-27
Просмотров: 42546
By looking at how a change in price affects the total revenues of producers in a market (whether TR increases or decreases) we can draw some quick and accurate conclusions about whether demand for a good is elastic, inelastic or unit elastic between two prices. We'll also learn that even along a straight-line demand curve there is a RANGE of elasticities of demand for every good.
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