Info

Following a

Following a

Elasticity

Implies

Price Increase

Price Decrease

Elastic demand, 1 eP 1 > 1

%AQ > %AP

Revenue decreases

Revenue increases

Unitary elasticity, 1 eP 1 = 1

%AQ = %AP

Revenue unchanged

Revenue unchanged

Inelastic demand 1 eP 1 < 1

%AQ < %AP

Revenue increases

Revenue decreases

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