The demand schedule for sugar is: The demand schedule for sugar is: Price (dollars per kilogram) 3 5 7 9 12 Quantity Demanded (millions of kilograms per year) 86273 20 c. At what price is total revenue a maximum? 16 12 a. What happens to total revenue if the price of sugar rises from $3 to $7 per kill 4 b. What happens to total revenue if the price rises from $7 to $12?

Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter5: Elasticity
Section: Chapter Questions
Problem 27CTQ: Can you think of an industry (or product) with near infinite elasticity of supply in the short term?...
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Final Exam (4 HR) (page 24 of 26) - Google Chrome
mpuslife.ca/Ims/mod/quiz/attempt.php?attempt-6982998cmid=14397319&page=23
The demand schedule for sugar is:
24°C
The demand schedule for sugar is:
Price
(dollars per kilogram)
3
5
9
12
Quantity Demanded
(millions of kilograms per year)
20
Paragraph
a. What happens to total revenue if the price of sugar rises from $3 to $7 per kile
c. At what price is total revenue a maximum?
16
12
b. What happens to total revenue if the price rises from $7 to $12?
BIEE
3
2
Transcribed Image Text:Final Exam (4 HR) (page 24 of 26) - Google Chrome mpuslife.ca/Ims/mod/quiz/attempt.php?attempt-6982998cmid=14397319&page=23 The demand schedule for sugar is: 24°C The demand schedule for sugar is: Price (dollars per kilogram) 3 5 9 12 Quantity Demanded (millions of kilograms per year) 20 Paragraph a. What happens to total revenue if the price of sugar rises from $3 to $7 per kile c. At what price is total revenue a maximum? 16 12 b. What happens to total revenue if the price rises from $7 to $12? BIEE 3 2
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