Question: Notice that once price goes below $1.50, total revenue decrease inboth cases of demand elsioty. a. What important insights does this illustrate? Elasticity is unitary

Notice that once price goes below $1.50, total revenue decrease inboth cases of demand elsioty. a. What important insights does this illustrate? Elasticity is unitary along a linear demand curve. Elasticity is constant along a linear demand curve. With linear demand curves, elasticity will eventually will differ as you move along a curve. Elasticity measures responsiveness in percent change, which is different than slope

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