Here are some leaders who donât match our ideal: 1  The teenage gang leader who has âstreet credâ, is tough and prepared to defy the law, even if it means shooting his way out of trouble. 2  Stalin, admired by some Russians who like tough leaders, even if ruthless.
When price and total revenue move in the same direction, demand is relatively inelastic. True: when price and total revenue move in the same direction, demand is relatively inelastic. Why will the price elasticity of demand will be greater when the price of a good is higher relative to a consumer's income. A higher priced good will have a higher price elasticity of demand.
0. 2 Case I: Inelastic Demandâ¢ Suppose the price elasticity of demand is 0.5; What eï¬ect will the 10percent increase in the toll have on total revenue? â¢ We need to solve for quantity sold at $1.10 E p = Price elasticity of demand=Percentage change in quantity demandedPercentage change in price= Q $1.10 âQ $1.. 2 Case I: Inelastic Demandâ¢ Suppose the price elasticity of demand is 0.5; What eï¬ect will the 10percent increase in the toll have on total revenue? â¢ We need to solve for quantity sold at $1.10 E p = Price elasticity of demand=Percentage change in quantity demandedPercentage change in price= Q $1.