Q6. The table below gives the demand schedule for a good. Price level Quantity Demanded 100 40 80 60 60 80 40 Elasticity Total Revenues 20 100 120 a. What are the total revenues at each point? And what is the elasticity at from 100 to 80 and 80 to 60 and 60 to 40 price levels? b. Draw the demand and total revenues curves. And show the price level to get the maximum total revenues on the graph.

Q6. The table below gives the demand schedule for a good. Price level Quantity Demanded 100 40 80 60 60 80 40 Elasticity Total Revenues 20 100 120 a. What are the total revenues at each point? And what is the elasticity at from 100 to 80 and 80 to 60 and 60 to 40 price levels? b. Draw the demand and total revenues curves. And show the price level to get the maximum total revenues on the graph.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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