Question

Write down the relation between marginal revenue, average revenue and

elasticity of demand.​

Answer 1

There is a very useful relationship between elasticity of demand, average revenue and marginal revenue at any level of output. ... Therefore, elasticity of demand at any point on a consumer's demand curve-is the same thing as the elasticity of demand on the given point on the firm's average revenue curve.

Answer 2

Answer:

There is a very useful relationship between elasticity of demand, average revenue and marginal revenue at any level of output. ... Therefore, elasticity of demand at any point on a consumer's demand curve-is the same thing as the elasticity of demand on the given point on the firm's average revenue