illustrate the relationship between price elasticity of demand and total revenue, and how the elasticity concept can be used to maximise revenues of both commodities? Illustrate your answer using relevant diagrams of elastic and inelastic goods.

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illustrate the relationship between price elasticity of demand and
total revenue, and how the elasticity concept can be used to maximise
revenues of both commodities? Illustrate your answer using relevant
diagrams of elastic and inelastic goods.

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