If the price of coffee beans goes up to $1.20 which is +20% and demand drops down by 18% to 410 kg, the PED is still inelastic. But the revenue will become $492 which is less than the previous one ($500). Doesn't it make the conclusion that "when PED is inelastic, revenue increases when price increases" wrong? If not please teach me how come that happen, I'm confused at that point, thank you
there's also 18% less overhead, expenses, shipping, customer acquisition costs, warehousing costs, taxes etc. because they now have to sell 82 units instead of 100 units.
Amazing video. Very concise and detailed at the same time. Loved it.
Thanks for thé explanation profe
amazing video
I finally understood the concept, thank you so much!!
If the price of coffee beans goes up to $1.20 which is +20% and demand drops down by 18% to 410 kg, the PED is still inelastic. But the revenue will become $492 which is less than the previous one ($500). Doesn't it make the conclusion that "when PED is inelastic, revenue increases when price increases" wrong? If not please teach me how come that happen, I'm confused at that point, thank you
understandably so.
Ikr
there's also 18% less overhead, expenses, shipping, customer acquisition costs, warehousing costs, taxes etc. because they now have to sell 82 units instead of 100 units.
great thanks
Very professional, thanks!
Thank you♥️
Mr. B's econ classs brought me here
great
talks about coffee beans, but not even that is enough to keep me awake....zzzzzzzzz
very professionally boring!! I would rather watch a documentary!
ruclips.net/video/hzzuh-ydcmY/видео.html
ruclips.net/user/LivingEconomics
ur cpr demonstration was boring af as well, next time dont upload ur boring shit thx
L0
HOW DOES THIS APPLY TO PEKIN DUCK ECONOMICS