And as we established, demand is unit elastic at this price. Any small change in price at this point will have no impact on total revenue. Table 3.5 summarizes all of these relationships for a linear downward sloping demand curve.
And as we established, demand is unit elastic at this price. Any small change in price at this point will have no impact on total revenue. Table 3.5 summarizes all of these relationships for a linear downward sloping demand curve.