'Tr test' presentation slideshows

law of demand

Other things being equal, as price falls, the quantity demanded rises and as price rises, the quantity demanded falls. What is this inverse relationship is called?. law of demand.

524 views • 42 slides

Total Revenue Test

Total Revenue Test. Uses elasticity to show how changes in price will affect total revenue (TR). (TR = Price x Quantity) Elastic Demand- Price increase causes TR to decrease Price decrease causes TR to increase Inelastic Demand- Price increase causes TR to increase

1.47k views • 38 slides

Prices

123 views • 0 slides