1)Graph the demand schedule below for Energy Bars facing an individual firm. Then using the mid-point formula, complete the table by calculating E_d to determine the price elasticity of demand for each of the six possible $1.00 price changes (3 decimal points). Then calculate the total revenue at each price level and indicate if demand is elastic, unitary or elastic in the table and on the graph. (10 Marks)

Price per Energy Bar | Quantity Demanded (1,000s) | Ed | Total Revenue | Elasticity

$1.00 14

$2.00 12

$3.00 10

$4.00 8

$5.00 6

$6.00 4

$7.00 2

a)Graph the Demand Schedule here ?

b)Show your calculations for E_d over the price change from $3.00 to $4.00. ?

c)Show your calculation for Total Revenue at the $5.00 and $6.00 price levels. ?

d)At what price level(s) is will this firm maximize Total Revenue? Explain your answer ?