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c) iii -The demand for student are elastic. The relationship between price elasticity of demand and total revenue is negative. -The demand for wrking adults
c) iii -The demand for student are elastic. The relationship between price elasticity of demand and total revenue is negative.
-The demand for wrking adults are inelastic. the relationship between price elasticity of demand and total revenue is positive.
-The demand for Retirees are elastic. The relationship between price elasticity of demand and total revenue is negative.
iv. i will choose to give an discount to student and i will not give the discount to the retirees because the total revenue from students buying more than retirees
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