Total revenue and PED

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[@anushkasharma4390]

Hi, this makes it so easy but do you have videos where demand for product is perfectly elastic or perfectly inelastic and the impact on total revenue with increase or decrease in prices?

[@EnhanceTuition]

I don't have videos for those two specifically. Think about either of them like this. If people will buy my product no matter what price I charge, as I raise the price, I increase my total revenue (for a product with perfectly inelastic demand). If I have a product that I cannot sell for higher/lower, any change in my price results in zero revenue (for a product with perfectly elastic demand).

[@anushkasharma4390]

EnhanceTuition Thankyou so much. This makes it so clear.