Question: 2.3. With reference to Diagram 2.1, explain the relationship between price elasticity of demand and total revenue, highlighting how changes in elasticity influence revenue along

2.3. With reference to Diagram 2.1, explain the relationship between price elasticity of demand and total revenue, highlighting how changes in elasticity influence revenue along the demand curve. (8)

Diagram 2.1 (a) P 20 18 14 10 6 1 2 Q 10 14 18 20 100000 80000 60000 40000 20000 Q 2 6 10 14 18 20

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