Suppose you observe the following demand curve for a product:

A. The slope of the above demand curve is ________________.

B. Fill in the "price elasticity of demand" column by calculating elasticity at each of

the prices given in column one.

3. As price falls from $180 to $120, this results in what?

a. less elastic demand (consumers less responsive)

b. more elastic demand (consumers more responsive)

4. What are the total revenues at each price?

a. at price=$180.

b. at price=$120.

c. at price=$100.

d. at price=$40.

5. What price maximizes total revenue?

No Spacing Heading 1 Heading 2 Title Subtitle Subtle Emph Styles Dictate Pane 14. Suppose you observe the following demand curve for a product: 200 180 160 140 120 Price (per unit) 100 Demand 0 20 40 60 80 100 120 140 160 Quantity Demanded (per period)