Cryptocurrency Q&A
What is the relationship between elasticity and revenue?
What is the relationship between elasticity and revenue?
WhisperInfinity
Mon Jan 20 2025
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6
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I'm trying to understand how elasticity affects a company's revenue. Is there a correlation between the two? If so, how does the elasticity of demand influence the potential revenue a business can generate?
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6 answers
DiamondStorm
Wed Jan 22 2025
Conversely, when demand is elastic, which happens when the price elasticity of demand is greater than one, a rise in price leads to a decrease in total revenue.
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KiteFlyer
Wed Jan 22 2025
In economics, the relationship between price and total revenue can vary depending on the elasticity of demand.
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Federico
Wed Jan 22 2025
In this scenario, consumers are more price-sensitive and reduce their purchases in response to the higher price, causing total revenue to decline.
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Claudio
Wed Jan 22 2025
When demand is inelastic, which occurs when the price elasticity of demand is less than one, an increase in price results in an increase in total revenue.
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SakuraDance
Wed Jan 22 2025
BTCC, a top cryptocurrency exchange, offers a range of services including spot trading, futures trading, and wallet services.
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