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I don't get why price(max)=$80
Can someone help me

I don't get why price(max)=$80 Can someone help me-example-1

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check the picture below.

as a matter of elasticity, if you sell 100 popsicles for $1, you get a revenue of $100.

However, if your price goes to $5 per popsicle, then folks will begin to find it too expensive and won't be buying 100, but just 15, so, even though $5 is a higher price, 5 * 15 is a much smaller revenue than 1 * 100.
I don't get why price(max)=$80 Can someone help me-example-1
User Patrick Allen
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