m (5,000. 5550) (10000, $500) $500 a '4." $400 3 (11.000. 5300) a. $300 * 8200

(5,000, $550) $500 $400 $300 $200 $100 o 5,000 (10,000, $500) (11 ,ooo, $300) 10.000 15,000 Quantity 20,000 'heory says that oligopolies should stick to the $500.00 price to maximize revenue (see the graph above). Jse the graph pictured to calculate elasticity and total revenue in the elastic, inelastic, and unit elastic portions of the demand curve at the price and quantity points specified o explain the theory.