Elasticity

Answer the following questions (200+ words total) after
watching the following video from the Simpsons, Bart Gets an Elephant, Season 5, Episode 17
00:1147-00:15:59:

1. Using your understanding of elasticity, explain why Homer’s plan to increase the price of elephant
   visits backfires.
2. Could you think of a scenario in which an increase in price would cause total revenue to increase?
   Please explain.
   links:
   https://www.youtube.com/watch?time_continue=5&v=_HqG9AtMuE4&feature=emb_title
   https://www.youtube.com/watch?time_continue=4&v=6aB0BoUoPgE&feature=emb_title

Sample Solution