Total revenue is derived by multiplying price and quantity demanded. Given the table below, answer the questions shown after the table.

Demand Schedule for Product w

Price of Product WQuantity Demanded for Product WP10060 millionP20050 millionP30040 millionP40030 millionP50020 million

Questions:

1. What will happen to the company's total revenue if the price of Product W falls from P400 to P300?

2.What will happen to the company's total revenue if the price of Product W rises from P200 to P400?

3. At what price/s are the company's total revenue maximized?

4. A what quantity/quantities of Product W will be bought at the price that answers question number 3?