Point on Demand Curve: A B C D E F G H I Price (P): $40 $35 $30 $25 $20 $15 $10 $5 $0 Quantity Demanded (QD): 0 5 10 15 20 25 30 35 40 (a) Based on this demand schedule, set up a graph (using excel) showing this demand curve and another graph showing the corresponding total revenue curve (i.e., you need two separate graphs with quantity on the horizontal axis).

Point on Demand Curve: A B C D E F G H I Price (P): $40 $35 $30 $25 $20 $15 $10 $5 $0 Quantity Demanded (QD): 0 5 10 15 20 25 30 35 40 (a) Based on this demand schedule, set up a graph (using excel) showing this demand curve and another graph showing the corresponding total revenue curve (i.e., you need two separate graphs with quantity on the horizontal axis).

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter6: Elasticities

Section: Chapter Questions

Problem 17P

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q=-2p+200 find the demand equation express the total revenue R as a function of the price p per item. determine the price p that maximizes total revenue
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