Positive Income Elasticity of Demand | | |
Price Elasticity of Demand | | |
Total Revenue | | |
Demand is elastic and a price decrease occurs, what is the impact on total revenue?              | | |
Marginal Revenue | | |
Price Inelastic | | |
Price Elasticity of Supply | | |
Demand is inelastic and a price decrease occurs, what is the impact on total revenue?              | | |
Negative Income Elasticity of Demand | | |
Price Elastic | | |