The total revenue of the Betty's burgers will either increase or decrease if the price elasticity of demand of the burgers is equal to 4.55.
Price elasticity of demand refers to the change in quantity demanded when there is a change in price of the product in a given period, other things being constant.
It is to be noted that a change in quantity demanded will have a direct impact and lead to a change in the total revenue of the firm. If the price elasticity is zero, the revenue will not change.
In the above example, price elasticity of demand is given as 4.55, which will either lead to an increase or decrease in the total revenue of Betty's burgers owing to the external factors like prices of substitute, change in consumer's income or tastes and preferences.
Hence, the total revenue of Betty's Burgers will be subject to change if the price elasticity of demand is 4.55.
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