Calculate total-revenue data from the demand schedule in question 2. Graph total revenue below your demand curve.

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Calculate total-revenue data from the demand schedule in question 2. Graph total revenue below your demand curve. Generalize about the relationship between price elasticity and total revenue.

Product Quantity

Price Demanded

$5 ……………………… 1

4 ……………………….. 2

3 ……………………….. 3

2 ……………………….. 4

1 ……………………….. 5

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Economics

ISBN: 978-0073375694

18th edition

Authors: Campbell R. McConnell, Stanley L. Brue, Sean M. Flynn

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Question Posted: May 23, 2013 07:43 AM

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Calculate total-revenue data from the demand schedule in question 2. Graph total revenue below your demand curve.

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