It's a busy evening on Riverside Walk. Set the prices at a cinema, a bike repair shop, a yoga mat shop, a newspaper kiosk, a bus route and an arena. The gold wall beside each one is its total revenue: price × quantity. Pull the price lever, watch money being won and lost, use the total revenue test to decide whether demand is price elastic or price inelastic, and calculate PED.
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KEMIHead of pricing, Riverside Walk
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PED and total revenue · Edexcel IGCSE Economics
💰 Pull the price lever📈 Watch the gold⚖️ Elastic or inelastic?➗ Work out PED