? 10 Demand Inelastic Demand Max TR Price 0 -1 -2 Marginal Revenue -3 -4 -5 0 1 2 3 4 5 6 7 10 Quantity2. Problems and Applications Q5 Consider the relationship between monopoly pricing and the price elasticity of demand. If demand is inelastic and a monopolist raises its price, total revenue would 7 and total cost would . Therefore, a monopolist will produce a quantity at which the demand curve is inelastic. Use the purple segment (diamond symbols) to indicate the portion of the demand curve that is inelastic. (Hint: The answer is related to the marginal- revenue (MR) curve.) Then use the black point (plus symbol) to show the quantity and price that maximizes total revenue (TR)