This short revision clip cements student understanding of the importance of price elasticity of demand for the total revenue of a supplier when the market price changes. When the coefficient of price elasticity is less than one, an increase in market price leads to an increase in total revenue.
3 causes of a business facing a relatively price inelastic demand curve
2 possible impacts of this for either their supplier or their customers
1 strategy a firm might use to make demand price inelastic
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