Chapters 8 & 9 Saved Suppose than an oligopolist is charging $20 per unit of output and selling 28 units each day. What is its daily total revenue? $ Also suppose that previously it had lowered its price from $20 to $18, rivals matched the price cut, and the firm's sales increased from 28 to 29 units. It also previously raised its price from $20 to $29, rivals ignored the price hike, and the firm's daily total revenue came in at $550. Which of the following is most logical to conclude? :01 The firm's demand curve isClick to select) (Click to select) a linear (straight) downsloping line elastic over the $20 to $29 price range a curve with a kink in it inelastic over the entire $20 to $25 price range 28 of 45 Next >