P 0 1 2 3 4 5 6 Qd 60 50 40 30 20 10 0 A. Graph the data above (5) b. omit Calculate the elasticity of demand, using the midpoint formula, as price drops from $6 to 5, then from 5 to 4, 4 to 3, 3 to 2, 2 to 1, and, 'I to 0. Show all work. (20) - omit c. omit - For each calculation in part c, state: if the price elastic, unitary or inelastic; what portion of the demand curve it is located on (upper, middle or lower); and what is the relationship between the % change in Qd and the % change in P for each calculation; (10) Question # 5 AA. From the data in question #4, Calculate total revenue at each and every price for this demand curve. Then, graph the total revenue curve. (10) b. B. Now, starting with the price of $6 and working down the demand curve $1 at a time, explain what is happening to the total revenue at each price and why. You need to relate the TR back to the Ed formula and explain