Elastic and Inelastic Range of Demand for Monopolies

This Elastic and Inelastic Range of Demand for Monopolies video also includes:

What are the elastic and inelastic ranges of a demand curve in imperfect competition, and how can you tell?

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CCSS: Adaptable
Classroom Considerations

  • Learners should understand the concept of total revenue test before beginning video
  • Best used as a review tool rather than as a stand-alone lesson
Pros

  • Explains relationship between marginal revenue and total revenue by illustrating on a graph
Cons

  • Instructor moves quickly through content
Common Core