Question: ch 1 1 # 3 : Please answer A - C clearly and give all 6 answers for a thumbs up . Aruna owns Pottery

ch 11 #3: Please answer A-C clearly and give all 6 answers for a thumbs up. Aruna owns Pottery Plus, a small firm that produces terra cotta pots for sale in the Edmonton area. The graph below shows Aruna's demand curve. A) A1) If the firm wishes to maximize its total revenue, at what price should it sell its pots? ___ A2) What is its total revenue? $___
B) Suppose that the firm were to increase its price by $4 from the price in (a). B1)What will be the change in its total revenue?
Note: Give your answer as an absolute number. ____
B2) What is the co-efficient for the price elasticity of demand between those two prices?
Note: Round your price answer to two decimal places. ____
C) Suppose that the firm were to decrease its price by $4 from the price in. C1)What will be the change in its total revenue?
Note: Give your answer as an absolute number. ____
C2)What is the co-efficient for price elasticity of demand between those two prices?
Note: Round your price answer to two decimal places. ____
ch 1 1 # 3 : Please answer A - C clearly and give

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