Question

does any relationship exist between elasticity price and revnue aspects under monopoly​

Answer 1

Explanation:

There's a direct relationship between price elasticity and marginal revenue. The more elastic a good is, the more its demand is affected by changes in supply. In a competitive market, marginal revenue is the same as price. Therefore, in a competitive market, price elasticity has a direct relationship with marginal revenue. In a natural monopoly, marginal revenue is less than price. This is because low price is a primary driver of monopoly. Therefore, in a monopoly, price elasticity also has a direct relationship with marginal revenue.

HOPE YOU LIKE THIS ANSWER