Elasticity and Revenue and its relationship.

A demonstration of how revenue changes when prices are raised and how this relates to the concept of elasticity.
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Related Video: Price Elasticity of Demand and Marginal Revenue
• How to Calculate Price...

[@momuhammad632]

Thank you after 12 years

[@ny1fanta]

my prof has a formula which I dont really get, MR=P(1+(1/elasticity of quantity & price))

[@economicsfun]

The purpose of the video is to show the relationship between Elasticity and Revenue. I did change to title of the video to be more descriptive.

[@economicsfun]

I did add a link in the video description to a related video on Price Elasticity of Demand and Marginal Revenue that could be helpful.

[@Survivor2060]

Where was the calculation of MR?

[@TATGemini]

I also do not see a calculation for Marginal Revenue, which I know MR = dTR/dQ. This does not show the calculation! Thumbs down!