No Bull Economics Lessons

Macroeconomics & Microeconomics Concepts You Must Know

Essential Questions

What is the relationship between elasticity of demand and marginal revenue?

Posted on April 14, 2014 at 8:20 PM

When marginal revenue is greater than zero, demand is price elastic. When marginal revenue is less than zero, demand is price inelastice. When marginal revenue equals zero, demand is unit elastic.

This No Bull Review video illustrates how this conceprt is linked to a firm selling output in an imperfectly competitive market such as a monopoly.

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AP Microeconomics Unit 2 Product Markets

Categories: AP Microeconomics, Micro Unit 2 Product Markets

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