Marginal cost is to total cost as price elasticity is to what?

Marginal cost refers to the additional cost of producing one more unit of a good, while total cost is the overall expense for producing all units. Similarly, price elasticity measures how much the quantity demanded of a product changes when its price changes, while total revenue is the total income from sales of that product. For example, if a company raises the price of its product and sees a significant drop in sales, this is an example of high price elasticity. In contrast, if the sales remain stable despite a price increase, the product has low price elasticity. Therefore, just as marginal cost relates to total cost, price elasticity relates to total revenue, showing how changes in price impact overall sales income.