Microeconomics

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Elasticity

Total Revenue Along a Linear Demand Curve

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Elasticity changes along a linear demand curve!

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Total Revenue Along a Linear Demand Curve

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Problem

What is the elasticity of demand when the price of the good changes from $3 to $5? 


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Problem

At what price is the elasticity of demand for the product equal to one? 

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Problem

At what price is revenue maximized?