Question: Please help me with the one I got wrong. Question c a. Use the following demand schedule to calculate total revenue and marginal revenue at
Please help me with the one I got wrong. Question c


a. Use the following demand schedule to calculate total revenue and marginal revenue at each quantity. Instructions: Enter your answers rounded to two decimal places. If you are entering any negative numbers be sure to include a negative sign H in front of those numbers. 0 Answer is complete and correct. Price (P) \"31mm, Total Revenue 2323; $7.00 0 6.50 1 6.50 9 6.00 2 5.50 9 5.50 3 4.50 9 5.00 4 3.50 0 4.50 5 2.50 9 4.00 6 1.50 9 3.50 7 0.50 9 3.00 8 -o.50 Q 2.50 9 -1.50 0 Instructions: Enter your answers rounded to two decimal places. For each segment, be sure to enter the highest price first. c. Use Chapter 6's total-revenue test for price elasticity to designate the elastic and inelastic segments of your graphed demand curve. Demand is elastic from a price of$ o to a price of$ 0 Demand is inelastic from a price of$ o to a price of $ El 0. d. In general, when marginal revenue is positive, demand is elastic 0. When marginal revenue is negative, demand is inelastic o. e. Suppose the marginal cost of successive units of output is zero. What output would the profitseeking firm produce? (Assume the firm can only produce whole units.) :I
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