Benjiko

hkalra32  yes, the effect is opposite. I would slightly rephrase your sentence this way: 1% price cut ‘…increases revenue as we move down…’ to the point of unitary elasticity (the point of highest total revenue) from this point the ‘…revenue decreases…’.
rus1bus  good point, although demand curves, however, can be nonlinear. For example, a demand curve for marginal revenue product tends to be convex. And I suppose this just proves that because we use the elasticity formula, ((X2  X1)/X1) / ((Y2  Y1)/Y1), to solve for elasticity even though the curve is convex, the end result is just the elasticity (and no where near a slope). Good stuff!