@liddella,
Total Revenue, with relation to Elasticity, is dependent on Demand. Supply has nothing to do with it. Usually a Demand curve is drawn, axis to axis. Then a Total Revenue curve is drawn on a separate graph below it. The TR curve arcs and shows that when Demand is Elastic, the top half, TR increases as P decreases. Then TR is maximized when PED=1, the second half of the demand curve is the Inelastic region and as P decrease, TR decreases.
Assuming the producers could change market prices, if they want more TR they would lower their prices. Perhaps they could increase supply.
Elasticity of Supply, is determined by other factors than the Shifters of Supply, so this is possible.
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