I need the answer for the inelastic demand on the graph. I think everything else I did is correct, but please let me know if you see any errors. Thank you.

7 . Monopoly and Price Elasticity Consider the relationship between monopoly pricing and the price elasticity of demand. If demand is inelastic and a monopolist raises its price, quantity would fall by a smaller V percentage than the rise in price, causing profit to increase V . Therefore, a monopolist will never V produce a quantity at which the demand curve is elastic. Use the purple segment (diamond symbols) to indicate the portion of the demand curve that is inelastic. (Hint: The answer is related to the marginal revenue (MR) curve.) Then use the black point (plus symbol) to show the quantity and price that maximizes total revenue (TR). ('2) 00 Inelastic Demand -+ Max TR Price Marginal Revenue I I u: Quantity Grade Ii Now Save 8; Continue f'nntini In ulilhnl it eavinn