Suppose that the price elasticity of demand for insulin is -0.2. If this is true, then an increase in the price will reduce the quantity demanded and the revenue of sellers.

Quantity Demanded reduced by : percentage change i.e  0.2 times percentage change in price

Increase revenue of sellers

Explanation:

Price Elasticity of Demand is responsive change in demand quantity due to price change. Formula = %change in demand / % change in price.

If Ped of Insulin is 0.2 , it means insulin demand will change by % = 0.2 times % change in price.  Eg : If price rise from Rs 100 by 50% & becomes 150 ; quantity will fall by 0.2 x 50 i.e 10% & fall from 100 to 90.

Ped = 0.2 i.e < 1 implies Demand is inelastic. Inelastic Demand has positive relationship between price & total revenue - higher total revenue at higher price, vice versa. Eg : Old TR =  old P x old Q = 100 x 100 = 10000 ; New TR = 150 X 90 = 13500. High TR at high P

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from wikipedia

hope this !

explanation: we can only guess at how our actions may be perceived in the future. doing something really big like killing lots of people, saving lots of people, affecting the lives of lots of people is a sure fire way of being remembered in historical records. we can also make a difference in the history records by being a small influence on something bigger, whether that is as a civil servant, scientist or artist.

of course you could argue that we all affect history just as tiny cogs in a   bigger machine.

if you mean how do people influence our opinions of things which have already happened, then simply by writing a book which looks at things form a different perspective and trying to convince people that this perspective is more accurate or truthful. people do it all the time i.e. richard the third was a terrible or was he? plenty would disagree, it's just that their views aren't the most widely known.n: