1.3.2.4e - PED and total revenue

Calculate and interpret the relationship between price elasticity of demand and total revenue.

Use e - ped and total revenue to connect the rule to the data and decision in the question.

This matters because e - ped and total revenue determines what can be inferred or chosen; begin with the stated conditions and keep the conclusion tied to the evidence.

Example: apply e - ped and total revenue to one small, clearly defined case, show the key step or comparison, and explain the result in words.

Boundary: e - PED and total revenue is not a universal recommendation. Check the syllabus scope, assumptions, units and the limits of the evidence before generalising.