What are the determinants of elasticity? Answer: The determinants of elasticity are substitutability, necessity/luxury, portion of the Type: Fill In The Blank and time. How is total revenue increased when demand is elastic? Answer: In the elastic region total revenue can be increased by the price. Type: Fill In The Blank How is elastic demand defined? Answer: When demand is elastic, for certain change in price, the response in quantity demanded is Type: Fill In The Blank than the change in price. Doint What is the elasticity of a straight line demand curve below unitary elasticity? Answer: Below unitary elasticity along a straight line demand curve the coefficient of price elasticity is less than 1, which means that demand is Type: Fill In The Blank