Thus increasing the total revenue effect after price increase

Price elasticity measures the changes in demand for a product in reaction to changes in the price for that product. It's a ratio of percentages, and the formula is as follows:

Price elasticity of demand = Percentage change in demand ÷ Percentage change in price

Total Revenue and the Price Elasticity of Demand:

Total revenue is price of the good times the quantity of the good sold.

Figurei

How price elasticity of demand is corelated to Netflix price in Australia.

Why Netfliix to rise price?