8 The demand schedule for sugar is

a What happens to total revenue if the price of sugar rises from a5 to a15 per pound? b What happens to total revenue if the price rises from a15 to a25 per pound? c At what price is total revenue at a maximum? Use the total revenue test to answer this question. d At an average price of a20 a pound, is the demand for sugar elastic or inelastic? Use the total revenue test to answer this question.

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Price (euros per pound) 5 Quantity demanded (millions of pounds per year) 35 10 30 15 25 20 20 25 15 30 35 10 5