Total revenue for skis is at a maximum when the price elasticity of demand is
A) between 0 and 1.
B) 1.
C) greater than 1.
D) 0.

Name: Total revenue for skis is at a maximum when the price elasticity of demand is A) between 0 and 1. B) 1. C) greater than 1. D) 0.
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Question

Quizplus · Accepted Answer

Total revenue is maximized when the price elasticity of demand is equal to 1, meaning demand is unit elastic.

Total Revenue for Skis Is at a Maximum When the Price