Elucidate there is a relationship between price elasticity

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Q. Derive the equation for how marginal revenue is a function of price and the own-price elasticity of demand, . Use this equation to explain why marginal revenue is less than price for a non-discriminating monopolist

Q. Elucidate why there is a relationship between price elasticity of demand and the effects on total sales revenue.

Reference no: EM1349217

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