How Elasticity of Demand Can Affect Total Revenue?

Answer Generating revenue is a necessary part of running a successful business. Total revenue is the total amount of money a company takes in by selling goods and services. A company's total revenue must ... Read More »

Top Q&A For: How Elasticity of Demand Can Affect Total Revenue

What Is the Relationship Between Demand & Marginal Revenue?

In economics, two of the most important concepts are the relationship between supply and demand and the importance of decisions made at the margin. The interaction between these two concepts is ext... Read More »

Does temperature affect the elasticity of rubberbands?

Temperature can affect the elasticity of a rubber band. A warmer band is harder to stretch, because the higher temperatures cause disorganization in the molecules. A colder rubber band is easier to... Read More »

Do cold temperatures affect the elasticity of a rubber band?

Whereas most materials expand with heat, rubber bands expand with cold temperatures; this is due to the large, thread-like molecules that make up rubber bands. When the temperature drops, the rubbe... Read More »

What is total revenue in economics?

According to and, total revenue is the total income a firm receives. This equals the price of each unit sold multiplied by the number of individual units sol... Read More »