PRICE ELASTICITYOF DEMAND: APPLICATION FOR BUSINESS STRATEGY TO MAXIMIZE TOTAL REVENUE GIVEN: The following hypothetical data concerning PRICE_"P" and QUANTITY demand (Qd) and Points "A" to "I" along the Demand Line that represent various combinations of "P" and "Qd", respectively POINT PRICE QUANTITY DEMANDED (Pt) (P) (Qd) A 80 0 B 70 100 C 60 200 50 300 40 400 30 500 20 600 H 10 700 0 800 REQUIREMENTS: 1. Using Microsoft EXCEL, plot the above data set on a graph so that you can show the geometric interpretation with appropriate calibration on the vertical sand horizontal axis for PRICE and QUANTITY, respectively. 90 80 70 B 606. Discuss the implication or application of Price Elasticity to the formulation of BUSINESS STRATEGY to MAXIMIZE TOTAL REVENUE.SUBJECT : MANAGERIAL ECONOMICS COURSE CODE: BEC 101 ANSWER NUMBER 6 ONLY